Law Summary
Repeal and Amendment of Previous Price Ceilings
- Repeals specific sections of Executive Orders No. 353, 407, and 408 concerning ceiling prices on imported shoe materials.
- Sets new ceiling prices on various imported shoe materials, detailing prices for importers, wholesalers, and to shoemakers.
Price Ceiling on Imported Shoe Materials
- Lists detailed ceiling prices for a wide range of imported shoe raw materials including various types of leathers, soles, heeling boards, shoe laces, threads, imitation leathers, rubberized materials, shoe cement, and miscellaneous materials.
- Prices vary by unit of measure (square feet, kilogram, yard, dozen pairs, gross, spool, gallon) and product type.
Ceiling Prices on Other Essential Imported Commodities (Foodstuff, Poultry Feeds, and Construction Materials)
- Fixes maximum selling prices for selected canned fish products, imported poultry feeds, and construction materials such as aluminum sheets, reinforcing steel bars, galvanized pipes, and insulating boards.
- Provides separate ceiling prices applicable to importers, wholesalers, and retailers.
Amendments to Simpson and Chapco Board Prices
- Increases and sets new ceiling prices for Simpson insulating boards and Chapco wallboards, updating previous Executive Orders No. 343 and 448.
Tax Inclusion Clause
- Ceiling prices include applicable taxes: 17% Special Excise Tax on Foreign Exchange, 7% Sales Tax, and 1% Municipal Tax on shoe materials and construction materials.
- For foodstuff and poultry feeds, ceiling prices include 7% Sales Tax and 1% Municipal Tax.
Effectivity
- The order took effect immediately upon issuance on July 27, 1951.
Legal and Administrative Implications
- Establishes a regulated pricing framework to stabilize prices of essential imported commodities during the specified period.
- Enables government oversight in the pricing of critical materials to prevent overpricing and protect consumers and industries dependent on these essential goods.