Preamble
WHEREAS, Section 11 of Republic Act No. 6361, otherwise known as the Price Control Law, as amended by Presidential Decree No. 737, provides that this law shall expire on June 30, 1977; WHEREAS, there is an urgent need to extend the effectivity of the law in line with the policy to prevent monopoly, hoarding, injurious speculation, manipulation and profiteering with respect to the supply, distribution and marketing of prime commodities; and WHEREAS, the amount of One Hundred Thousand (P100,000.00) Pesos provide under Section 9 of Republic Act No. 6361 for personnel services for a full year has become insufficient to secure an effective implementation of the Price Control Law; 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: