Armed Forces of the Philippines Commissary and Exchange Service (1)

March 1, 1993 FIRB RESOLUTION NO. 008-93 SUBJECT : Armed Forces of the Philippines Commissary and Exchange Service (1) BE IT RESOLVED, AS IT IS HEREBY RESOLVED, to renew the subsidy availment previously granted in favor of the Armed Forces of the Philippines Commissary and Exchange Service, pursuant to the FIRB Resolution No. 30-92 (Endorsing to the Department of Budget and Management the subsidy availment of the Armed Forces of the Philippines Commissary and Exchange Service in the amount of P60,379,216 . 00 only, representing the taxes and duties due therefrom, as follows: (1) P204,216 . 00 only on the 60,000 liters or gasoline procured by it from Petron Corporation on December 29, 1989; and (2) P60,175,000 . 00 only, on items purchased by it for the second semester of 1992 and subsequently sold by its outlets to their intended beneficiaries only, pursuant to the terms and conditions of Executive Order No. 76, as amended): 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 1993 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: Provided , furthermore , That the AFPCES shall take initiatives and institute further and/or additional safeguards to make sure that the benefits of its operations are enjoyed actually, exclusively, and in an equitable manner by its intended beneficiaries and not passed on in any way whatsoever to other persons not otherwise entitled to the benefits of commissary operations: Provided , finally , That the AFPCES shall devise a monitoring scheme whereby all purchases made by their intended beneficiaries are to be duly noted and a report thereabout made to the FIRB on a quarterly basis, to achieve the foregoing. (SGD.) RAMON R. DEL ROSARIO, JR. Secretary of Finance Chairman FIRB References : FIRB Technical Committee meeting dated January 29, 1993 FIRB meeting dated February 26, 1993