Philippine Heart Center

December 11, 2001 FIRB RESOLUTION NO. 003-01 SUBJECT : Philippine Heart Center WHEREAS, the Philippine Heart Center (PHC) provides specialized heart care services to a number of patients, most of whom are charity cases; WHEREAS, the operations of the PHC require the replacement of outdated equipment and continuing provisions of supplies and materials, most of which are not locally available or are not available in the quantity and/or quality required, thus prompting the PHC to import said items and in the process incur tax and duty liabilities thereon. NOW, THEREFORE, BE IT RESOLVED, AS IT IS HEREBY RESOLVED, to grant tax subsidy to the PHC in the amount of P10,883,331.00 only: representing the taxes and duties due on PHC's importations for 2001: Provided, That the grant of such tax subsidy shall be in accordance with the terms and conditions of Section 13 of the 2001 General Appropriations Act, subject to the availability of funds therefore, pursuant to the terms and conditions of the Rules and Regulations to Implement the Tax Subsidy Provisions Under Executive Order No. 93. aTEScI (SGD.) NIEVES L. OSORIO Undersecretary of Finance Presiding Officer FIRB Reference: FIRB-Technical Committee Meeting dated December 10, 2001 FIRB Meeting dated December 10, 2001