Law Summary

Overview

Executive Order No. 333, issued by President Elpidio Quirino, authorizes the Price Administration Board to make adjustments in the maximum prices for which importers or wholesalers are entitled, under the framework of Republic Act No. 509.

Authority and Purpose

• Legal Basis: This order is issued under the authority of Section 3 of Republic Act No. 509, which allows the President to fix ceiling prices of commodities and establish related regulations.
• Scope: The Order enables necessary adjustments in maximum prices post the establishment of ceiling prices, ensuring that retail prices remain unaffected.

Price Adjustment Authority

• Adjustment Process:
  • The Price Administration Board is empowered to make adjustments to maximum prices for importers and wholesalers.
  • These adjustments require the approval of the President of the Philippines.
• Retail Ceiling Prices: The Order explicitly states that fixed retail ceiling prices shall not be altered during this adjustment process.

Implementation

• Effective Date: The Order takes effect immediately upon promulgation.
• Date of Issue: It was issued on July 15, 1950, in Manila.

Signatories

• President: Elpidio Quirino
• Executive Secretary: Teodoro Evangelista

Key Takeaways

• Executive Order No. 333 allows the Price Administration Board to adjust maximum prices for commodities while maintaining fixed retail ceiling prices.
• The adjustments made by the Board require the President’s approval and take effect immediately.
• The Order is rooted in the authority granted by Republic Act No. 509, emphasizing the government’s role in regulating commodity prices in response to economic conditions.