Section 1
Section 1. The percentage of FY2000 net earnings to be declared and remitted by PITC as dividends to the National Government is hereby authorized to be adjusted to twenty-five percent (25%).
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Executive Order No. 61 (2001)
Executive Order No. 61 (2001)
PITC is a government-owned and/or controlled corporation (GOCC) created by virtue of PD 252, as amended by PD 1071;
Section 2
Section 2. The remittance of such dividend shall be made in accordance with applicable law and regulations, particularly R.A. No. 7656 and its Implementing Rules and Regulations.
Section 3
This Order shall take effect immediately
Section 3. This Order shall take effect immediately.
Done in the City of Manila, this 10th day of December, in the year of Our Lord, two thousand and one.
(SGD.) GLORIA MACAPAGAL-ARROYO
By the President:
(SGD.) ALBERTO G. ROMULO Executive Secretary