Republic of the Philippines DEPARTMENT OF FINANCE Manila
DEPARTMENT ORDER NO. 56-93 "FURTHER AMENDING SECTION 1 OF DEPARTMENT OF FINANCE CIRCULAR NO. 1-87, AS AMENDED BY DEPARTMENT ORDER NO. 42-90 DATED 22 AUGUST 1990, AND FOR OTHER PURPOSES" Cognizant of the recommendation made by the Department of Energy to reduce the foreign exchange risk fee as stated in their letter of 18 June 1993 and in line with the Government's thrust to gradually phase down the foreign exchange cover preparatory to the full deregulation of the oil industry, the following are hereby promulgated pursuant to Section 2 of Executive Order No. 137: Section 1.
Item 1 of Paragraph 1 of Department of Finance Circular No. 1-87 dated 18 February 1987, as amended by Department Order No. 42-90 dated 22 August 1990, is hereby further amended to read as follows: To pay in part for the foreign exchange risk cover on the "1. credit financing obtained by oil companies for their crude oil and petroleum products. importations, the oil companies shall pay to the OPSF a foreign exchange risk premium equivalent to a rate of 1/32 of one percent (1%) per month or any fraction thereof of cover based on the actual peso value of the foreign exchange payment for the shipment, to be applied on shipments with outstanding financing as of the effectivity of this Order as well as shipments loaded on or after said effectivity date. Provided, the on that the foreign exchange cover shall be based actual term of the applicable credit financing up to a maximum period of 180 days.
Section 2.
and regulations or parts thereof orders, circulars, rules All inconsistent with this Order are hereby revoked or modified accordingly.
Section 3.
This
Order shall take effect on September 22, 1993.
ERNEST C. LEUNG Acting Secretary Manila, Philippines 22 September 1993
exchange rate adjustment and/or increase in world market prices. of crude oil" and ... Only domestic sales affected by the aforementioned BOE. Price Order are ... DEPARTMENT ORDER NO. 56 .pdf. DEPARTMENT ORDER NO. 56 .pdf. Open.
prescribed by the Civil Service Commission: Provided, That. no official or employee in the local government shall suffer. any diminution of the basic salary rate ...
... subject to availa- bility of funds and the usual accounting and auditing requirements. ... to promulgate rules and regulations for the orderly conduct of the.
(Auditing) IV. Andrea Salvaleon Private Secretary III Adm. Assistant V ... Page 2 of 2. Ms. Corazon Gamallo, Office of the Secretary, and Mr. Roberto Millena are ... DEPARTMENT ORDER NO. 10 .pdf. DEPARTMENT ORDER NO. 10 .pdf. Open.
corresponding duties and taxes thereon have been paid. 3.2 Upon effectivity of ... necessary technical, operational and administrative. structures are in ... DEPARTMENT ORDER NO. 18 .pdf. DEPARTMENT ORDER NO. 18 .pdf. Open. Extract.
maximum tax ceilings imposable, determining the administrative and. statutory aids ... policies on promotions, transfers, details or secondment,. formulation and ... DEPARTMENT ORDER NO. 63.pdf. DEPARTMENT ORDER NO. 63.pdf. Open.
respective Services which are usually signed by Under- secretary P. H. Almanzor. Tiowever, all papers involving. Administrative Cases and opinion on Local ...
administrative aids and other statutory contributions in the. adoption of the annual ... By authority of the Secretary: LORIND. Di. c a`. M. CARLOS. ptor ... DEPARTMENT ORDER NO. 63 .pdf. DEPARTMENT ORDER NO. 63 .pdf. Open. Extract.
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and duty-free to non-stock, non-profit educational. institutions located ... DEPARTMENT ORDER NO. 18 .pdf. DEPARTMENT ORDER NO. 18 .pdf. Open. Extract.
appointment of government personnel, recommendations for positions, or any. other matter calling for action or decision. This Order shall be without prejudice to ...
and execution of local government budget policies, determination of. financial ... she is actually receiving at the time of the effectivity of this. Department Order ... DEPARTMENT ORDER NO. 42 .pdf. DEPARTMENT ORDER NO. 42 .pdf. Open.
and execution of local government budget policies, determination of. financial capability to ... actually receiving at the time of the effectivity of this Department ... DEPARTMENT ORDER NO. 66.pdf. DEPARTMENT ORDER NO. 66.pdf. Open.
