Preamble
SECTION I. In view of the shortage of the materials hereinafter specified, the President of the Philippines, upon prior investigation by and recommendation of the National Economic Council, which shall conduct public hearings to determine the acuteness of the shortage demanding the reduction considering public interest, is hereby authorized to reduce the present rates of tariff duty provided under existing law by not more than the corresponding percentage as follows: 1. Cement 70 % 2. Steel, reinforcing and structural 75 % 3. Asphalt 100 % 4. G. I. sheets and building hardwares 75 % 5. Pipes and plumbing materials 75 % 6. Electric wires 75 %