EXECUTIVE ORDER NO. 243, October 02, 2003

TEMPORARILY REDUCING / SUSPENDING THE RATES OF IMPORT DUTY ON FREQUENTLY USED SPARE AND REPLACEMENT PARTS FOR JEEPNEYS AND BUSES UNDER SECTION 104 OF THE TARIFF AND CUSTOMS CODE OF 1978 (PRESIDENTIAL DECREE NO. 1464), AS AMENDED

WHEREAS, the transport services sector is an important industry which moves goods and people to their destinations;

WHEREAS, the temporary reduction/suspension in the rates of duty will mitigate the impact of the high cost of frequently used spare and replacement parts for jeepney and buses;

WHEREAS, the reduction of cost of repair and maintenance of transport vehicles will prevent further increase in transport fares;

WHEREAS, Section 401 of the Tariff and Customs Code of 1978, as amended, empowers the President to increase, reduce or remove existing rates of duty, as well as, to modify the tariff nomenclature,

NOW, THEREFORE, I, GLORIA MACAPAGAL-ARROYO, President of the Philippines, by virtue of powers vested in me by law, do hereby order:

Section 1. The articles specifically listed in "Annex A" hereof, as classified under Section 104 of the Tariff and Customs Code of 1978, as amended, shall be imposed the MFN rates of import duty in accordance with the schedule indicated opposite each article.

Section 2. Upon the effectivity of this Executive Order, the articles in the aforesaid "Annex A", which are imported by duly accredited program proponent shall be levied the rates of duty herein prescribed.

Section 3. The Secretary of Department of Trade and Industry (DTI) together with the Department of Transportation and Communication (DOTC), Department of Finance (DOF), and the National Economic and Development Authority (NEDA), shall issue appropriate guidelines including the accreditation mechanism to implement the tariff privilege herein granted. The guidelines shall be issued within two (2) weeks from the complete publication of this Executive Order.

Section 4. All other Presidential issuances, administrative rules and regulations, or parts thereof, which are inconsistent with this Executive Order are hereby revokes or modified accordingly.

Section 5. This Executive Order shall be effective for a period of six (6) months which shall commence immediately following its complete publication in two (2) newspapers of general circulation in the Philippines.

DONE in the City of Manila, this 2nd day of October, in the year of our Lord, two thousand and three.

(SGD.) GLORIA MACAPAGAL-ARROYO

President of the Philippines

By the President:

(SGD.) ALBERTO G. ROMULO

Executive Secretary