MALACAÑANG has approved the modification of the rate of the import duty on national gypsum and anhydrite, which are considered as the main raw materials in manufacturing plasterboards and cement.
Signed by Executive Secretary Lucas Bersamin, Executive Order (EO) No. 46 stated that modifying the rate of import duty on natural gypsum and anhydrite will help revitalize and increase the competitiveness of the local plasterboard and cement industries in the country.
The EO indicated that the modified rate of import duty would support the housing and infrastructure projects in the Philippines.
“At present, there are no operating mines of natural gypsum and anhydrite in the country, and there are also no local substitute for said products that are available for domestic producers of plasterboards and cement,” read part of the EO.
Under Republic Act No. 10863, or the “Customs Modernization and Tariff Act,” the President has the authority, in the interest of general welfare and national security and upon recommendation of the National Economic and Development Authority (NEDA), to increase, reduce, or remove existing rates of import duty.
The NEDA Board endorsed the reduction of the Most-Favored Nation (MFN) tariff rate on natural gypsum and anhydrite on Sept. 21.
The NEDA shall submit to the President, through the Office of the Executive Secretary, its findings and recommendations on the matter, including analysis and monitoring of the gypsum and anhydrite market.
The EO shall take effect 30 days after its complete publication in the Official Gazette or in a newspaper of general circulation. (GMA Integrated News)
