WHEREAS, it is the policy of the State under the New Society to protect wages, incomes and employment against the erosion of imported as well as domestic inflation; WHEREAS, in the pursuit of this policy the Government has subsidized wage goods, controlled the prices of essential commodities, and provided the workers with emergency allowance under PD 525, 13th month pay under PD 851, new minimum wages under PD 928 and 10 paid legal holidays under PD 442;
WHEREAS, recent oil price increases and other inflationary factors have caused new difficulties to the workers, especially the lowest-income groups;
NOW, THEREFORE, I, FERDINAND E. MARCOS, by virtue of the powers vested in me by the Constitution, do hereby decree the following: