Preamble
WHEREAS, there is an urgent need for our country to yield more abundant natural resources, in order to prevent flood, droughts, erosion and sedimentation, increase water supply, and expand farm productivity to meet the ever increasing demand for domestic consumption of our growing population; WHEREAS, in pursuance to the above objective, Presidential Decree No. 1153 was issued, requiring every citizen to plant 1 tree every month for 5 consecutive years; WHEREAS, the MANILA SEEDLING BANK FOUNDATION, INC., a non-profit, non-stock organization, was organized primarily to engage in the production of three seedlings to supply the needs of the various government offices and agencies in all kinds of activities relating to tree planting and the general public under Presidential Decree No. 1153; WHEREAS, in order to better promote the objectives of the foundation, and considering that it is a non-profit corporation and had been organized solely for the country's interest and not for the benefit of any individual, contributor, or member, the Foundation should be exempt from all forms of taxation, and any of its equipment, articles or goods that it may import from abroad for its use, should be exempt from customs duties and all other imposts; NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Philippines, by virtue of the powers vested in me by the constitution, do hereby order and decree: