Recognition of Sales of Coconut Oil to the PNOC as Export Sales
Letter of Instructions No. 1332, issued on June 16, 1983, mandates that all sales of coconut oil under the government's coco-diesel program be treated as export sales by coconut oil mills for the purpose of receiving various export benefits. The Central Bank of the Philippines is directed to collaborate with relevant agencies, including the Philippine National Oil Company and the Philippine Coconut Authority, to establish rules and regulations for implementation. This directive aims to support the rationalization of the coconut oil milling industry and ensure the program's success. The instructions take effect immediately upon issuance.
Law Information
- Reference Number
- Letter of Instructions No. 1332
- Date Enacted
- Category
- Presidential Issuances
- Subcategory
- Letters of Instructions
- Jurisdiction
- Philippines
- Enacting Body
- Congress of the Philippines
Full Law Text
June 16, 1983
LETTER OF INSTRUCTIONS NO. 1332
| TO | : | The Governor, Central Bank of the Philippines |
| The President, Philippine National Oil Company | ||
| The Chairman, Philippine Coconut Authority | ||
| And Other Agencies Concerned |
To ensure the success of the coco-diesel program of the Government in line with the rationalization of the coconut oil milling industry, you are hereby directed as follows:
1. All sales of coconut oil under the coco-diesel program to the Philippine National Oil Company and/or the corporation authorized to be organized under LOI 926, 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, the corporation authorized to be organized under LOI 926, and other agencies concerned, promulgate the necessary rules, regulations and orders to implement this instruction.
This Letter of Instructions shall take effect immediately.
ISSUED this 16th day of June, in the year of Our Lord, Nineteen Hundred and Eighty-Three.
Cite This Law
Recognition of Sales of Coconut Oil to the PNOC as Export Sales, Letter of Instructions No. 1332, Jun 16, 1983 (Philippines)
Recognition of Sales of Coconut Oil to the PNOC as Export Sales, Letter of Instructions No. 1332 (Phil. 1983)
Related Laws
- Recognition of All Sales of Coconut Oil to the PNOC as Export SalesLetter of Instructions No. 1272 • Oct 25, 1982 • Presidential Issuances
- Exemption from Miller's Tax of Sales of Coconut Oil to the PNOCLetter of Instructions No. 1361 • Nov 2, 1983 • Presidential Issuances
- Instructions Governing Sales or Transfers of Sugar and All Sales of Sugar for ExportLetter of Instructions No. 237-A • Dec 23, 1974 • Presidential Issuances
- Export of Copra, Coconut Oil and their By-ProductsLetter of Instructions No. 939 • Oct 4, 1979 • Presidential Issuances
- Institution of a Three-Month Program of Special Price Support in Industrial Fuel Oil to Strategic IndustriesLetter of Instructions No. 216 • Oct 7, 1974 • Presidential Issuances
- Sales Tax Reform Decree of 1985Presidential Decree No. 1991 • Oct 31, 1985 • Presidential Issuances
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