Instructions on the Food Prices, Fares and OFW Remittances
Letter of Instructions No. 2, issued on October 15, 2007, addresses rising concerns over food prices, transportation fares, and remittances from Overseas Filipino Workers (OFWs). It mandates the Department of Trade and Industry and the Department of Agriculture to collaborate on measures to stabilize prices of essential commodities like flour and sugar. Additionally, the Department of Transportation and Communications and the Department of Energy are instructed to implement support measures for public utility vehicles. Lastly, the Department of Labor and Employment and the National Economic and Development Authority are tasked with evaluating the impact of a strong peso on remittances and devising strategies to alleviate associated challenges.
Law Information
- Reference Number
- Letter of Instructions No. 2
- Date Enacted
- Category
- Presidential Issuances
- Subcategory
- Letters of Instructions
- Jurisdiction
- Philippines
- Enacting Body
- Congress of the Philippines
Full Law Text
October 15, 2007
LETTER OF INSTRUCTIONS NO. 2
To address worries and difficulties over food prices, fares and overseas Filipino worker remittances, we hereby issue the following instructions to relevant agencies:
a) The Department of Trade and Industry and the Department of Agriculture shall devise measures to moderate the prices of flour and sugar, in consultation with industry and retail associations, producers, distributors and retailers. Among measures to consider are revenue-neutral tariff adjustments similar to those being applied to oil.
b) The Department of Transportation and Communications and the Department of Energy shall coordinate assistance measures to Public Utility Vehicles, including more discount gas stations, revenue-neutral adjustments on oil tariffs, as calculated by the Department of Finance, and fast-tracking and/or expansion of social services and benefits for the public transport sector.
c) The Department of Labor and Employment and the National Economic and Development Authority shall assess the impact of the strong peso on the remittances and families of Overseas Filipino Workers, and devise measures to moderate and cope with difficulties, including lower remittance fees, as the Department of Finance and the Bangko Sentral ng Pilipinas are working on, and supplemental income generating activities. IDTHcA
DONE on October 15, 2007.
Cite This Law
Instructions on the Food Prices, Fares and OFW Remittances, Letter of Instructions No. 2, Oct 15, 2007 (Philippines)
Instructions on the Food Prices, Fares and OFW Remittances, Letter of Instructions No. 2 (Phil. 2007)
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- Directing the Roll-Back of Fertilizer Prices and the Rationalization of the Fertilizer IndustryLetter of Instructions No. 1419 • Aug 6, 1984 • Presidential Issuances
- Reduction in Prices of FertilizersLetter of Instructions No. 1521 • Feb 4, 1986 • Presidential Issuances
- Adoption of Measures to Stabilize Prices of Meat and Meat ProductsLetter of Instructions No. 831 • Mar 20, 1979 • Presidential Issuances
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