NSCB Resolution No. 7
Series of 1995

APPROVING AND ADOPTING THE 1994 PHILIPPINE STANDARD INDUSTRIAL CLASSIFICATION

WHEREAS, a standard industrial classification is necessary to ensure uniformity and comparability of statistics on economic activities;

WHEREAS, the National Statistical Coordination Board (NSCB) maintains the Philippine Standard Industrial Classification (PSIC) which is based on the International Standard Industrial Classification (ISIC);

WHEREAS, the 1977 PSIC which is being presently used is based on the International Standard Industrial Classification Revision 2 (ISIC, Rev. 2) issued by the United Nations Statistical Office in 1968;

WHEREAS, the United Nations Statistical Office has revised the ISIC, Rev. 2 and issued ISIC, Rev. 3 in 1989;

WHEREAS, the NSCB Technical Committee on Statistical Standards and Classifications (TC-SSC), taking into account the significant changes on the relative importance of various economic activities in the country that have taken place since 1977, has prepared through its Technical Working Group on Industrial Classification (TWG-IC) the 1994 Philippine Standard Industrial Classification (PSIC) which is aligned with the ISIC, Rev. 3;

NOW THEREFORE, BE IT RESOLVED AS IT IS HEREBY RESOLVED, that the Board approve the 1994 PSIC for adoption by concerned government agencies and instrumentalities.

Approved this 6th day of July 1995.