AMENDING CERTAIN SECTIONS OF PRESIDENTIAL DECREE NO. 94

WHEREAS, the Cement Industry Authority was constituted on
January 11, 1973 to exist for a period of three years under Presidential
Decree No. 94;

WHEREAS, the Cement Industry Authority has helped
rationalize the Philippine cement industry and improved performance of
the industry in providing an adequate and continuous supply of cement to
the country, generating foreign exchange earnings from exports and
contributing to development of the national economy;

WHEREAS, subject to the approval of the President, the
Department of Industry adopts and implements the guidelines for
rationalization of certain industries to ensure maximum utilization of
industrial capacity and orderly productive growth of said industries:

NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the
Philippines, by virtue of the powers in me vested by the Constitution,
do hereby order and decree the following amendments to Presidential
Decree No. 94:

SECTION 1. Section 1 of the Decree is hereby amended to
read as follows:

Section 1. The Board of the Cement Industry Authority shall be
composed of the Secretary of the Department of Industry as Chairman, and
the heads of the Central Bank of the Philippines, Department of
Finance, Department of Trade, and Development Bank of the Philippines,
or their representatives, as members. Two representatives from the
producing sector of the industry as may be recommended by the
appropriate association of the cement industry may be designated by the
President as members of the Board of the Authority. The secretariat of
the Authority shall be provided by the Board of Investments.

SEC. 2. Section 2 of the Decree is hereby amended to read as
follows:

Section 2. The Cement Industry Authority shall continue to exist
for a period of three years from January 11, 1976.

SEC. 3. Effectivity—This decree shall take effect
immediately upon its approval.

Done in the City of Manila, this 24th day of March, in the year of
Our Lord, nineteen hundred and seventy-six.