Legal basis and authorizing power
- Executive Order No. 51 is issued by virtue of the powers vested in the President under Section 4 of Republic Act No. 1168.
- Republic Act No. 1168 governs the fixing of maximum selling prices of commodities in short supply, the creation of the Price Control Office (PRISCO), and related purposes.
- The President issues Executive Order No. 51 upon the recommendation of the General Manager and the Board of Directors of the PRISCO.
Policy objective: maximum selling prices
- Executive Order No. 51 implements price control by setting maximum selling prices (ceiling prices) for rice commodities.
- Section 1 reduces and re-sets ceiling prices for rice categories for wholesaler and retailer levels.
Scope: rice price ceilings only
- Executive Order No. 51 amends Section 1 of Executive Order No. 475 by changing ceiling prices specifically for RICE.
- Section 1 covers two rice groupings under RICE: Imported (Macan equivalent a NARIC old stock, remilled) and Native, Macan 2nd Class.
- Section 1 applies ceiling prices at both wholesaler and retailer price levels.
Revised ceiling prices for rice
- Section 1 sets the unit of measurement for imported rice as Ganta and assigns the following ceiling prices:
- Imported (Macan equivalent a NARIC old stock, remilled): Wholesaleras price = P0.70 and Retaileras price = P0.75.
- Section 1 sets the ceiling price for Native, Macan 2nd Class as follows:
- Native, Macan 2nd Class: Wholesaleras price = .80 and Retaileras price = .85.
- Section 1 expressly reduces and sets up new ceiling prices for the listed rice commodities under Executive Order No. 475.
Procedural and implementation rule
- Section 2 establishes the implementation trigger: immediate effect after publication in a newspaper of general circulation.
- Executive Order No. 51 is carried out by updating the ceiling-price schedule through amendment of Section 1 of Executive Order No. 475.