Memorandum Order No. 358




MALACAÑAN PALACE MANILA BY THE PRESIDENT OF THE PHILIPPINES [ MEMORANDUM ORDER NO. 358, April 02, 1996 ] FILLING UP THE SUGAR QUOTA FOR THE CROP YEAR 1995-1996 AND GRANTING TARIFF-FREE PRIVILEGES FOR THE IMPORTATION OF RAW CANE SUGAR In order to fill up the sugar quota for the crop year 1995-1996, the Department of Agriculture is hereby authorized to adopt countertrade sugar swap program at a ratio of 1:1.25. Under this program, qualified domestically produced sugar will be exported to the United States in the amount of the allocated quota of 229,393 MT commercial weight for 1996. The Philippine International Trading Corporation will then import from the world market raw cane sugar to satisfy domestic market requirements. The Department of Finance is hereby directed to grant tariff-free privileges for the importation of raw cane sugar.1âшphi1 This Memorandum Order shall take effect immediately. Adopted: 02 April 1996 By authority of the President: (Sgd.) RUBEN D. TORRES Executive Secretary The Lawphil Project - Arellano Law Foundation