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Memorandum Order No. 73
MEMORANDUM ORDER NO. 73 PROVIDING AMENDMENTS TO MO 51 S. 2002, "AMENDMENTS TO M.O. 346, AMENDING THE GUIDELINES ON THE CAR DEVELOPMENT PROGRAM (CDP), THE COMMERCIAL VEHICLE DEVELOPMENT PROGRAM (CVDP), AND THE MOTORCYCLE DEVELOPMENT PROGRAM (MDP)" AS AMENDED BY MO 473
Section 16 and 16.4 of Chapter II (CVDP) and Section 24.1 of Chapter III (MDP), Memorandum Order No. 51-A shall supercede Memorandum Order No. 51;
NOW, THEREFORE, I, GLORIA MACAPAGAL-ARROYO, President of the Philippines, by virtue of the powers vested in me by law, do hereby amend Memorandum Order No. 51 dated 22 January 2002 and order the following:
SECTION 1.
Section 7.1 Chapter I (CDP), Section 16.1 & 16.4 Chapter II (CVDP) and
Section 24.1 of Chapter III (MDP) are hereby amended to read:
"Participants of the CDP, CVDP and MDP shall comply with the following local content requirements."
Period
CDP
CVDP
MDP
I & II
I & II
III
IVA
IVB
IVC
IVD-V
Cat. A
Cat. B
Jan. 1, 2002 until
June 30, 2002
35%
39.375%
19.163%
18.76%
19.46%
11.839%
12.049%
39.375%
30.625%
July 1, 2002 until Dec. 31 2002
30%
33.750%
16.425%
16.08%
16.68%
10.148%
10.328%
33.750%
26.250%
Jan. 1, 2003 until June30, 2003
25%
28.125%
13.688%
13.40%
13.90%
8.456%
8.606%
28.125%
21.875%
July 1, 2003
0
0
0
0
0
0
0
0
0
SECTION 2.
Section 10.2, 10.3 and 10.4 of Chapter I (CDP), Section 19.1 Chapter II (CVDP) and Section 26.1 of Chapter III (MDP) are hereby amended to read:
"Participants of the CDP, CVDP, MDP will still be required to earn foreign exchange credits through the export of automotive products to be able to import CKDs . The net foreign earnings shall be recorded in ledger without bonus and the foreign exchange ratio (as a percentage of CKD import value) shall be as follows:
Date
CDP
CVDP
MDP
Cat. I
Cat. II
Cat. III
Cat. I & II
Cat. III, IV and V
Cat. A & B
Jan. 1 2002 until Dec. 31, 2002
15%
55%
75%
15%
5%
15%
Jan. 1, 2003 until June30, 2003
15%
55%
75%
15%
5%
15%
July 1, 2003
0
0
0
0
0
SECTION 3. Repealing Clause . — All other executive orders, administrative orders, rules and regulations, or parts thereof inconsistent with the provisions of this Memorandum Order are hereby repealed or modified accordingly.
SECTION 4. Effectivity . — This Memorandum Order shall take effect immediately.
Adopted: 12 Sept. 2002
(SGD.) ALBERTO G. ROMULO Executive Secretary