Philippine National Railways

May 15, 1997 FIRB RESOLUTION NO. 006-97 SUBJECT : Philippine National Railways BE IT RESOLVED, AS IT IS HEREBY RESOLVED, to renew the balance of tax subsidy previously granted in favor of the Philippine National Railways, pursuant to FIRB Resolution No. 26-96 (Amending the validity date of Certificate of Entitlement to Subsidy Nos. 0211 and 0216, previously granted in favor of the Philippine National Railways pursuant to FIRB Resolution No. 5-96 (Renewing the balance of tax subsidy in the amount of P10.47 million) and FIRB Resolution No. 11-96 (Granting tax subsidy in the amount of P97.152 million) representing the taxes and duties due on its importation of various materials and supplies in connection with the Improvement and Modernization of Commuter Line Project and the Main Line South Revitalization Project, respectively), in the amount of P30.74 million only, (P20.27 million for Main Line South Revitalization Project and P10.47 million for Improvement and Modernization of Commuter Line Project); Provided , that such availment shall be in accordance with the terms and conditions of Section 13 of the 1997 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.) ANTONIO P. BELICENA Undersecretary of Finance Chairman, FIRB Technical Committee For the Presiding Officer FIRB Reference: FIRB Technical Committee Meetings dated February 26, 1997 and April 28, 1997 FIRB Meeting dated May 15, 1997 Amount Renewed: P30.74 million only .