Law Summary
Introduction
Executive Order No. 443, issued on May 29, 1951, by President Elpidio Quirino, amends several previous executive orders related to the regulation of ceiling prices on various commodities in the Philippines. This order seeks to establish new pricing structures for construction materials, textiles, and foodstuffs to ensure fair market conditions.
Section 1: Amendment of Ceiling Prices for Construction Materials
Explanation: This section amends Executive Order No. 343 by updating ceiling prices for imported galvanized fittings, mild steel flat bars, and angle bars.
Key Definitions:
- Ceiling Price: The maximum price that can be charged for a commodity.
Important Requirements:
- New ceiling prices are established for various sizes and types of galvanized fittings and steel bars.
Relevant Details:
- Examples of new ceiling prices:
- Galvanized Fittings (e.g., Elbows, Nipples, Tees) with specified wholesale and retail prices.
- Mild Steel Flat Bars and Angle Bars with listed prices per kilogram.
Important Points:
• The wholesale and retail prices are explicitly defined for each type of commodity.
• The price adjustments respond to market conditions and the recommendations of the Price Administration Board.
Section 2: Repeal and Adjustment of Ceiling Prices for Textiles
Explanation: This section repeals Section 3 of Executive Order No. 373 and sets new ceiling prices for various imported textiles.
Key Definitions:
- Textiles: Various fabric types, including sheetings, drills, denims, and suitings.
Important Requirements:
- Specific ceiling prices are defined for different qualities and widths of textiles.
Relevant Details:
- Examples of new ceiling prices:
- Grey Sheetings and Denims with specified prices per yard.
- Various qualities of cotton woven suitings and flannels.
Important Points:
• Pricing varies by quality and type of textile, ensuring consumer protection against price gouging.
• The adjustments are made to reflect current import costs and market demand.
Section 3: Repeal and New Ceiling Prices for Galvanized Plain Wire
Explanation: This section repeals Section 1 of Executive Order No. 408 and sets new prices for galvanized plain wire.
Key Definitions:
- Galvanized Plain Wire: A type of wire used in construction and other applications, protected against rust.
Important Requirements:
- New ceiling prices are established for different sizes of wire rolls.
Relevant Details:
- Ceiling prices for various sizes of galvanized plain wire are specified by roll size and type.
Important Points: • The price adjustments aim to stabilize the market for essential construction materials.
Section 4: Repeal and New Ceiling Prices for Flour
Explanation: This section repeals Section 1 of Executive Order No. 421 and establishes new ceiling prices for American and Canadian flour.
Key Definitions:
- Flour: A staple food product used in various food preparations.
Important Requirements:
- New ceiling prices are defined for different classes of flour.
Relevant Details:
- Examples of new ceiling prices:
- American and Canadian flour with specified prices per 50-pound bag.
Important Points: • Pricing adjustments seek to ensure affordability for essential food products.
Section 5: Repeal and New Ceiling Prices for Reinforcing Steel Bars
Explanation: This section repeals Sections 1 and 2 of Executive Order No. 427 and establishes new ceiling prices for reinforcing steel bars.
Key Definitions:
- Reinforcing Steel Bars: Metal bars used to reinforce concrete in construction.
Important Requirements:
- New ceiling prices are set for various sizes of reinforcing steel bars.
Relevant Details:
- Specific prices are listed for multiple sizes of bars.
Important Points: • Prices include taxes, ensuring transparency in pricing.
Section 6: Tax Inclusion in Ceiling Prices
Explanation: This section states that the newly established ceiling prices include specific taxes.
Key Definitions:
- Special Excise Tax: A tax applied to certain goods, including construction materials and textiles.
- Sales Tax: A tax imposed on the sale of goods.
Important Points: • Ceiling prices include:
- 17% special excise tax on foreign exchange,
- 7% sales tax, and
- 1% municipal tax for construction materials and textiles. • 7% sales tax and 1% municipal tax for American and Canadian flour.
Section 7: Effectivity
Explanation: This section states that the order takes effect immediately upon issuance.
Important Points: • The order is effective as of May 29, 1951, ensuring prompt implementation of the new pricing structure.
Key Takeaways
- Executive Order No. 443 amends previous orders to set new ceiling prices for construction materials, textiles, and foodstuffs to protect consumers from price fluctuations.
- The order includes detailed pricing for specific commodities and incorporates applicable taxes into the ceiling prices.
- The changes are effective immediately, reflecting the government's response to economic conditions and recommendations from the Price Administration Board.