Preamble
WHEREAS, there is a recognized need to integrate and coordinate port planning, development, control and operations at the national level, and at the same time promote the growth of regional port bodies responsive to the needs of their individual localities; WHEREAS, harbors and tributary areas have their own peculiar potentialities to be considered in port planning and development; WHEREAS, hitherto, the concept of port administration in this country has been focused on the traditional functions of revenue collection, harbor maintenance and cargo handling, to the exclusion of the port's fuller utilization and development as a spur for regional growth; WHEREAS, Presidential Decree No. 505 was promulgated on July 11, 1974 to carry out these stated objectives; and WHEREAS, it was found necessary in the national interest to amend Presidential Decree No. 505 so as to enable the Philippine Port Authority to exercise all the proper powers and functions of a port authority and in order to better carry out the desired objectives: NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Philippines, by virtue of the powers vested in me by the Constitution in order to effect desired changes and reforms in the social, economic and political structure of cur society, do hereby decree and order the revision of Presidential Decree No. 505 by substitution with this Decree which is hereby adopted and made part of the laws of the land; DUTIES REGULATIONS ASSETS AND LIABILITIES