Preamble
WHEREAS, the continuing low level of the international market price of gold has placed domestic primary gold producers in a precarious financial condition threatening the continued operation of the industry; WHEREAS, thousands of workers and their families who are directly dependent on the gold mining industry stand to suffer most in the event of curtailment or stoppage of mining operations; WHEREAS, during this period of difficulty for primary gold producers and uncertainty as to the future international market price of gold, there is a need to provide assistance to the gold mining industry; 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 the following: