Recognition of All Sales of Coconut Oil to the PNOC as Export Sales
Letter of Instructions No. 1272, issued on October 25, 1982, directs various government agencies to support the coco-diesel program by recognizing sales of coconut oil to the Philippine National Oil Company as export sales. This classification allows coconut oil mills to benefit from export credits, rediscounting privileges, and other financial advantages under Central Bank regulations. The Central Bank, along with relevant agencies, is tasked with creating the necessary rules for the program's implementation. The directive is effective immediately.
Law Information
- Reference Number
- Letter of Instructions No. 1272
- Date Enacted
- Category
- Presidential Issuances
- Subcategory
- Letters of Instructions
- Jurisdiction
- Philippines
- Enacting Body
- Congress of the Philippines
Full Law Text
October 25, 1982
LETTER OF INSTRUCTIONS NO. 1272
| TO | : | The Governor, Central Bank of the Philippines |
| The President, Philippine National Oil Company | ||
| The Chairman, Philippine Coconut Authority and | ||
| other Agencies Concerned |
As a measure to ensure the success of the coco-diesel program of the Government, and in fairness to the firms/entities participating therein, you are hereby directed as follows: aisa dc
1. All sales of coconut oil to the Philippine National Oil Company under the coco-diesel program by coconut oil mills/millers/desiccators shall be considered and recognized as export sales for purposes of the grant of export credits, rediscounting privileges, allocation of travel funds and such other benefits under Central Bank rules and regulations.
2. The Central Bank of the Philippines shall, in consultation with the Philippine National Oil Company, the Philippine Coconut Authority and other agencies concerned, promulgate the necessary rules, regulations and orders to implement this instruction.
This Letter of Instruction shall take effect immediately. cd i
ISSUED this 25th day of October, in the year of Our Lord, Nineteen Hundred and Eighty-Two.
Cite This Law
Recognition of All Sales of Coconut Oil to the PNOC as Export Sales, Letter of Instructions No. 1272, Oct 25, 1982 (Philippines)
Recognition of All Sales of Coconut Oil to the PNOC as Export Sales, Letter of Instructions No. 1272 (Phil. 1982)
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