PRESIDENTIAL DECREE No. 1390

AMENDING SECTION 14 OF PRESIDENTIAL DECREE NO. 1352

WHEREAS, the projects undertaken under the Armed Forces of the Philippines Self-Reliant Defense Posture (SRDP) Program are vital to the security of the Republic of the Philippines because of the nature of the products and are pioneering industries in the in-country manufacture of defense items which heretofore used to be purchased and acquired from sources abroad;

WHEREAS, at the early stage of the life of the industries under the Armed Forces of the Philippines Self-Reliant Defense Posture (SRDP) Program, the Armed Forces of the Philippines is the sole market and the customs duty and internal revenue tax that will be imposed subsequently would only be passed on to the Armed Forces of the Philippines.

NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Philippines, by virtue of the powers vested in me by the Constitution, do hereby order that;

Section 1 of Presidential Decree No. 1352 dated April 21, 1978, is hereby amended so as to include therein the following:

"14. Those which are exempt under Presidential Decree No. 415"

This Decree shall take effect immediately.

Done in the City of Manila, this 30th day of May, in the year of Our Lord, nineteen hundred and seventy-eight.