PHIVIDEC Industrial Authority (2)

November 28, 2002 FIRB RESOLUTION NO. 008-02 SUBJECT : PHIVIDEC Industrial Authority (2) WHEREAS, the PHIVIDEC Industrial Authority (PIA) per FIRB Resolution No. 03-02 was granted tax subsidy in the amount of P82,930,591.56 only, representing the taxes and duties on its importations of construction materials and equipment only excluding motor vehicles and for the exclusive use of the Mindanao Container Terminal Project (MCTP) for the year 2002 subject to certain conditions; WHEREAS, the PIA needs to revise its schedule of importations for the MCTP based on the following; for the effective implementation of the Project; to suit actual field conditions; certain items are not locally available; some items will be purchased locally; and transfer of procurement schedule from 2003 to 2002; WHEREAS, no additional provision of tax subsidy is required since the taxes and duties due from the revised schedule of importations is still within the approved grant of tax subsidy to PIA; WHEREAS, there is also a need to ensure that all importations covered by this tax subsidy grant will be used exclusively for the MCTP and not for other purposes; NOW, THEREFORE BE IT RESOLVED, AS IT IS HEREBY RESOLVED, to amend the scope of the tax subsidy previously granted to the PIA pursuant to FIRB Resolution No. 3-02 in the amount of P82,930,591.56 only per Annex A hereof, representing the taxes and duties on its importations of construction materials and equipment only excluding motor vehicles and for the exclusive use of the MCTP for the year 2002: Provided, however, that the availment shall be subject to the conditions set forth under FIRB Resolution No. 3-02: Provided further, that the grant of such subsidy shall be in accordance with the terms and conditions of Section 13 of the 2002 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. ECaAHS (SGD.) NIEVES L. OSORIO Undersecretary of Finance Presiding Officer FIRB Reference: FIRB-Technical Committee Meeting dated October 30, 2002 FIRB Meeting dated November 27, 2002