MALACAÑAN PALACE
MANILA
BY THE PRESIDENT OF THE PHILIPPINES
[ Memorandum Order No. 286, March 8, 1990 ]
APPROVING AND PROMULGATING THE SUPPLEMENTARY GUIDELINES TO THE CAR DEVELOPMENT PROGRAM (CDP)
Pursuant to the provisions of Executive Order No. 248 dated July 24, 1987 and Memorandum Order No. 136 dated December 1, 1987, the Supplementary Guidelines to the Car Development Program, recommended by the Board of Investments on January 29, 1990, are hereby approved and promulgated subject to the following conditions:
(a)upward revision of the People Car’s retail price of P175,000.00, being an express provision in these supplementary guidelines, would have to undergo the process mandated under Section 14 of the Guidelines for the Car Development Program; and,
(b)the successful new participants who have complied with their commitments under the Supplementary Guidelines shall only be qualified for eligibility to participate in the manufacture and assembly of passenger cars with engine displacement of up to 2800 cc under the existing Car Development Program guidelines after one (1) year of operations from effectivity of this Memorandum Order.
This Memorandum Order shall take effect after fifteen (15) days from its publication.1aшphi1
DONE in the City of Manila, this 8th day of March, in the year of Our Lord, nineteen hundred and ninety.
(Sgd.) CORAZON C. AQUINO
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