National Electrification Administration (2)

January 24, 1995 FIRB RESOLUTION NO. 003-95 SUBJECT : National Electrification Administration (2) BE IT RESOLVED, AS IT IS HEREBY RESOLVED, to renew the subsidy availment previously granted in favor of the National Electrification Administration, pursuant to FIRB Resolution No. 17-94 (Granting subsidy availment to the National Electrification Administration in the amount of P18 . 40 million only , representing the taxes and duties due on its importations of electrical equipment and materials: Provided , That the amount of subsidy to be available to the subject beneficiary shall be limited only to the unutilized portion of the subsidy availment previously granted thereto: Provided , further That new applications by such subject beneficiary shall not be acted upon by the FIRB until the renewed tax subsidy herein shall have been fully utilized by it: Provided , furthermore , That such availment shall be in accordance with the terms and conditions of Section 12 of the 1995 General Appropriations Act, subject to the availability of funds therefor, pursuant to the terms and conditions of the Rules and Regulations to Implement the Subsidy Provision Under Executive Order No. 93. aisadc (SGD.) JUANITA D. AMATONG Undersecretary of Finance Presiding Officer FIRB References : FIRB Technical Committee meeting dated January 16, 1995 FIRB meeting dated January 23, 1995 Amount Renewed P18.40 million only FIRB Resolution No. Amount 2-95 P465.30 million 3-95 18.40 Total P483.70 million ===========