National Agribusiness Corporation (1)

February 20, 1996 FIRB RESOLUTION NO. 005-96 SUBJECT : National Agribusiness Corporation (1) BE IT RESOLVED, AS IT IS HEREBY RESOLVED, to renew the balance of the tax subsidy previously granted in favor of the Philippine National Railways, pursuant to FIRB Resolution No. 41-95 (Granting tax subsidy to the Philippine National Railways in the amount of P18,695,416.00 only, representing the duties and taxes due on its 1995 importation of various materials and supplies in connection with the Improvement and Modernization of Commuter Line South Project) in the amount of P10 . 47 million only : Provided , That such availment shall be in accordance with the terms and conditions of Section 12 of the 1996 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.) MA. CECILIA G. SORIANO Undersecretary of Finance Presiding Officer FIRB References : FIRB Technical Committee Meeting dated January 26, 1996 FIRB Meeting dated February 19, 1996 Amount Renewed : P10 . 47 million only