Preamble
WHEREAS, in this period of rising prices, extraordinary gains are realized from increases in inventory values due to government-approved price increases; WHEREAS, because of the magnitude of the recent increases in crude cost, the offsetting price increase, even on the basis of cost recovery, would be such that extraordinary appreciation in the value of inventory acquired prior to such cost increase would result; and WHEREAS, such extraordinary gains resulting from government-approved price increases should be channeled for special economic and social development projects; NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Philippines, by virtue of the powers in me vested by the Constitution as Commander-in-Chief of all the Armed Forces of the Philippines, and pursuant to Proclamation No. 1081, dated September 21, 1972, and General Order No. 1, dated September 22, 1972, as amended, do hereby decree and order: