Philippine National Railways (1)

February 11, 1994 FIRB RESOLUTION NO. 005-94 SUBJECT : Philippine National Railways (1) BE IT RESOLVED, AS IT IS HEREBY RESOLVED, to renew the subsidy availment previously granted in favor of the Philippine National Railways, pursuant to FIRB Resolution No. 12-93 (Granting subsidy availment to the Philippine National Railways in the amount of P33 . 65 million only, representing the taxes and duties due on its importations in connection with its Metro Manila Rail Commuter Maintenance Depot Construction and Main Line South Revitalization Projects): 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 such availment shall be in accordance with the terms and conditions of Section 15 of the 1994 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. (SGD.) JUANITA D. AMATONG Undersecretary of Finance Presiding Officer FIRB References : FIRB Technical Committee Meeting dated January 26, 1994 FIRB Meeting dated February 11, 1994 Amount Renewed P19 . 5 million only