| DOF gives exporters some breathing space |
| Thursday, 10 December 2009 | |
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Exporters who were badly affected by the global financial crisis have something to look forward to in the year 2010 courtesy of the Department of Finance. DOF Secretary Margarito Teves have signed with the BOC, Customs Administrative Order (CAO) No. 5-2009 last November 23, 2009 that will grant temporary relief to exporters. The said CAO aims to temporarily assist distressed legitimate exporters who are unable to timely liquidate imported materials or articles intended for the manufacture of finished products for export due to global financial crisis. The CAO will take effect after due publication and shall remain in force within one year thereafter, unless otherwise extended by the Secretary. Early this year, Philexport Cebu had a series of meeting with Secretary Teves conducted both in Marco Polo and in Ayala City Sports Club in different occasions. Philexport Cebu’s representatives lead by its Chairman Allan Suarez, President Jay Yuvallos and Executive Director Fred Escalona have been requesting DOF leniency in the implementation of Customs liquidation procedure and time frame because many orders were cancelled. List of request to DOF were also sent to DOF by Philexport Cebu after those meetings. |
