Rationale: To stop the ruinous and almost unrestricted IMPORTATION is to empower the SUGAR REGULATORY ADMINISTRATION (SRA) to declare as any excess importation of sugar over consumer needs as Reserve. E.O. No. 18 is therefore AMENDED as follows: "Sec. 2. The Sugar Regulatory Administration. - In order to carry out the foregoing policy, a Sugar Regulatory Administration under the Office of the President is hereby created with the following objectives: To institute an orderly system in sugarcaneproduction INCLUDING THE RESERVE CLASSIFICATION OF EXCESS IMPORTED SUGAR WHETHER IN LIQUID, CRYSTAL, REFINED, RAW, SYRUP FORM INCLUDING ANY GRADE OF MOLASSES for the stable, sufficient and balanced production AND SUPPLY of sugar for local consumptioon, exportation and strategic reserves; EXCESS IMPORTATION MEANS IMPORTATION OVER AND ABOVE THE STRATEGIC RESERVE AS DETERMINED BY THE SUGAR REGULATORY ADMINISTRATION, AFTER TAKING INTO ACCOUNT DOMESTIC PRODUCTION OF SUGAR.