Question & AnswerQ&A (EXECUTIVE ORDER NO. 443)
The main purpose of Executive Order No. 443 is to amend previous Executive Orders Nos. 343, 373, 408, 421, and 427 by increasing and setting new ceiling prices for various imported construction materials, textiles, galvanized plain wire, American and Canadian flour, and reinforcing mild steel bars, pursuant to the authority vested by Section 3 of Republic Act No. 509.
The President's authority to fix ceiling prices of commodities is vested by Section 3 of Republic Act No. 509.
The executive order covers imported construction materials (such as galvanized fittings, mild steel flat bars, angle bars, galvanized plain wire, reinforcing mild steel bars), imported textiles, and imported foodstuff (specifically American and Canadian flour).
The ceiling prices include a 17 percent special excise tax on foreign exchange, a 7 percent sales tax, and a 1 percent municipal tax for construction materials and textiles.
The ceiling prices for American and Canadian flour include a 7 percent sales tax and a 1 percent municipal tax.
Section 1 of Executive Order No. 343, Section 3 of Executive Order No. 373, Section 1 of Executive Order No. 408, Section 1 of Executive Order No. 421, and Sections 1 and 2 of Executive Order No. 427 are repealed or amended as specified in this order.
Prices are categorized as wholesale prices and retail ceiling prices for each specified commodity and unit of measure.
The ceiling prices serve as the maximum prices that sellers can charge for the specified imported commodities, preventing excessive price increases and protecting consumers and industries dependent on these materials.
The amendments and price settings were made upon the recommendation of the Price Administration Board.
The order took effect immediately upon its issuance on May 29, 1951.