Fertilizer and Pesticide Authority (1)

March 1, 1993 FIRB RESOLUTION NO. 009-93 SUBJECT : Fertilizer and Pesticide Authority (1) BE IT RESOLVED, AS IT IS HEREBY RESOLVED, to renew the subsidy availment previously granted in favor of the Fertilizer and Pesticide Authority, pursuant to FIRB Resolution No. 55-92 (Endorsing to the Department of Budget and Management the subsidy availment of the Fertilizer and Pesticide Authority in the amount of P72,781,496 . 27 only, broken down as follows: (1) P34,931,440 . 07 only, representing the duties due on its importations of fertilizers for the first quarters and second quarters of 1992; and (2) P37,850,056 . 20 only, representing the duties due on its importations of fertilizers for the period 1990 to 1991): 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 fertilizer trading shall be strictly monitored by the FPA and that fertilizer prices are widely disseminated with the corresponding floor and ceiling ranges, to make sure that the benefit of subsidy availment is effectively passed on to the farmers through reasonable and affordable fertilizer prices and that the FPA shall furnish the FIRB on a regular basis or as often as may be required by the latter, the details of its initiatives and accomplishments in the foregoing aspects: Provided , finally , That the FPA shall take greater efforts and initiatives in settling its existing accounts with the Bureau of Customs and that any failure to do so shall be a ground for the FIRB not to act on any subsidy application therefrom. aisadc (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