11:10 PM
Oct. 27, 1972
Friday
Malacañan Palace
Manila
Signed the new tariff code and other decrees.
Ordered the arrest of notorious smugglers specially embroidery firms who have flaunted the law so long ostensibly importing raw materials for embroideries, foundation garments, children’s dresses, gloves etc. but actually selling some if not most of the raw materials in the local market thus escaping tariff duties and taxes and lessening our exports.
Also ordered the arrest of notorious dynamiters who continue their nefarious activities notwithstanding our warnings.
The momentum of reform is being maintained.
But we must keep on pushing into the other areas. BIR reorganization as well to increase collections is necessary because we are facing deficits of more than ₱1.5 billion.