Lung Center of the Philippines

May 21, 2004 FIRB RESOLUTION NO. 005-04 SUBJECT MATTER : Lung Center of the Philippines WHEREAS, the Lung Center of the Philippines (LCP) provides specialized health and medical services through the prevention and cure of respiratory and allied diseases; SaCIAE WHEREAS, the operations of the LCP require the replacement of outdated equipment and continuing provisions of supplies and materials, most of which are not locally available or are not available in the quantity and/or quality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 LCP to import said items and in the process incur tax and duty liabilities thereon; WHEREAS, the grant of tax subsidy to the LCP is intended to keep the cost of its medical services affordable particularly to patients belonging to the low-income bracket; WHEREAS, there is also a need to ensure that all importations covered by this tax subsidy grant will be used exclusively by the LCP in its operations and not for other purposes. NOW, THEREFORE, BE IT RESOLVED, AS IT IS HEREBY RESOLVED, to grant tax subsidy to the LCP in the amount of P867,201.00 only , representing the taxes and duties on its 2003 importations of 60 units of hospital beds that arrived on December 26, 2003 per Annex A hereof: Provided, however, that all hospital beds for which tax subsidy is granted shall form part of the regular inventory of the LCP as certified to by the resident Commission on Audit (COA) auditor of the LCP: Provided finally , that such availment shall be in accordance with the terms and conditions of Section 13 of the 2003 General Appropriations Act as reenacted, 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. (SGD.) NIEVES L. OSORIO Undersecretary of Finance Presiding Officer-FIRB References: Joint FIRB-Technical Committee Meeting dated May 20, 2004.