National Food Authority (3)

December 6, 2004 FIRB RESOLUTION NO. 011-04 SUBJECT : National Food Authority (3) WHEREAS, the National Food Authority (NFA) is mandated to ensure food security and grains supply in the country and stabilize their prices; WHEREAS, there is a need to stabilize the price and supply of basic food commodities, particularly rice which is the Filipino staple food; WHEREAS, to achieve these objectives, the NFA has resorted to rice importation to augment domestic production, in the process incurring duty obligations thereon to the Bureau of Customs; WHEREAS, the full payment of said duty obligations would have an adverse impact on NFA's financial position and further exacerbate the magnitude of its loss as duties would form part of its operating expenses; trdcd2004 NOW, THEREFORE, BE IT RESOLVED AS IT IS HEREBY RESOLVED, to approve the application for tax subsidy of the NFA in the amount of P4,054,539,247 . 00 only , representing duties due on its 600,000 MT of rice importations for 2004: Provided , that the tax subsidy shall be used exclusively for importations made by the NFA only: Provided further , that: (a) the initial issuance of the Certificate of Entitlement to Subsidy (CES) shall be limited to the amount of P2,248,663,157 only , to cover the duties on sixty (60) shipments involving 340,470 MT of imported rice that arrived from March 29, 2004 to June 29, 2004 (Annex A); and (b) the subsequent CES pertaining to the balance of 259,530 MT shall be issued only upon submission by the NFA to the FIRB of the required billings and/or documents evidencing the importations with a certification that the volume covered by said billings and/or documents is part of the 600,000 MT of rice importations: Provided finally , that such availment shall be in accordance with the terms and conditions of Section 13 of the 2003 General Appropriations Act, as reenacted, 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.) NIEVES L. OSORIO Undersecretary of Finance Presiding Officer FIRB Reference : Joint FIRB and Technical Committee Meetings dated December 6, 2004 ANNEX A No. Date of Import Description of Volume Duties Arrival Entry Shipment (MT) Number 1 30-Mrch-04 423 Vietnam long grain white rice 6,000 P42,137,999.00 2 31-Mrch-04 Vietnam long grain white rice 6,500 42,072,194.00 3 31-Mrch-04 069 Vietnam long grain white rice 6,500 43,445,534.00 4 31-Mrch-04 Vietnam long grain white rice 6,600 42,719,459.00 5 29-Mrch-04 002 Vietnam long grain white rice 6,000 39,698,676.00 6 2-Apr-04 38287 Vietnam long grain white rice 3,700 23,977,407.00 7 2-Apr-04 Vietnam long grain white rice 5,950 38,357,911.00 8 6-Apr-04 036 Thai long grain white rice 8,350 53,804,244.00 9 2-Apr-04 Vietnam long grain white rice 6,000 39,175,795.00 10 11-Apr-04 023 Vietnam long grain white rice 7,200 47,378,081.00 11 14-Apr-04 422 Vietnam long grain white rice 6,700 46,992,321.00 12 11-Apr-04 2593 Vietnam long grain white rice 14,100 91,269,911.00 13 12-Apr-04 Vietnam long grain white rice 6,100 39,792,708.00 14 12-Apr-04 Vietnam long grain white rice 5,500 35,878,671.00 15 18-Apr-04 038 Vietnam long grain white rice 6,500 41,653,243.00 16 15-Apr-04 41982 Thai long grain white rice 8,350 53,219,128.00 17 17-Apr-04 28375 Thai long grain white rice 6,000 38,472,632.00 18 15-Apr-04 41885 Vietnam long grain white rice 6,000 45,829,335.00 19 20-Apr-04 Vietnam long grain white rice 5,900 37,838,528.00 20 20-Apr-04 2810 Vietnam long grain white rice 6,000 38,305,740.00 21 24-Apr-04 Vietnam long grain white rice 6,000 38,816,665.00 22 23-Apr-04 Vietnam long grain white rice 6,600 42,698,331.00 23 27-Apr-04 Vietnam long grain white rice 5,950 38,462,194.00 24 27-Apr-04 2981 Thai long grain white rice 10,200 64,658,920.00 25 27-Apr-04 003 Vietnam long grain white rice 5,900 39,002,801.00 26 27-Apr-04 2980 Vietnam long grain white rice 7,200 46,331,883.00 27 30-Apr-04 046 Vietnam long grain white rice 4,300 27,808,782.00 28 30-Apr-04 047 Vietnam long grain white rice 1,700 10,898,776.00 29 3-May-04 32713 Vietnam long grain white rice 2,450 15,781,865.00 30 3-May-04 32716 Vietnam long grain white rice 4,050 25,881,701.00 31 5-May-04 Vietnam long grain white rice 6,600 42,663,946.00 32 13-May-04 53222 Vietnam long grain white rice 3,700 23,654,194.00 33 17-May-04 031 Vietnam long grain white rice 6,100 39,858,619.00 34 19-May-04 54900 Vietnam long grain white rice 14,100 90,946,569.00 35 25-May-04 Vietnam long grain white rice 5,500 35,259,673.00 36 24-May-04 3808 Vietnam long grain white rice 1,400 9,008,331.00 37 27-May-04 3807 Vietnam long grain white rice 4,600 29,341,982.00 38 30-May-04 Thai long grain white rice 5,500 39,946,379.00 39 3-June-04 Vietnam long grain white rice 6,500 42,019,028.00 40 2-June-04 Vietnam long grain white rice 2,800 17,943,449.00 41 2-June-04 Vietnam long grain white rice 3,100 20,039,844.00 42 5-June-04 44926 Thai long grain white rice 5,950 41,807,559.00 43 2-June-04 Vietnam long grain white rice 2,200 14,204,446.00 44 2-June-04 Vietnam long grain white rice 4,400 28,233,636.00 45 13-June-04 Vietnam long grain white rice 3,700 23,888,162.00 46 14-June-04 68612 Vietnam long grain white rice 2,500 18,221,688.00 47 14-June-04 68677 Vietnam long grain white rice 1,100 8,017,555.00 48 14-June-04 67479 Thai long grain white rice 1,200 8,393,010.00 49 14-June-04 67349 Thai long grain white rice 4,750 33,222,417.00 50 18-June-04 Vietnam long grain white rice 6,000 38,719,501.00 51 19-June-04 Vietnam long grain white rice 6,100 39,364,826.00 52 21-June-04 4706 Vietnam long grain white rice 2,650 19,179,552.00 53 21-June-04 4705 Vietnam long grain white rice 3,850 27,864,633.00 54 24-June-04 Thai long grain white rice 7,400 51,433,410.00 55 24-June-04 Vietnam long grain white rice 5,950 38,396,839.00 56 23-June-04 72061 Vietnam long grain white rice 3,800 24,345,711.00 57 23-June-04 72052 Vietnam long grain white rice 10,300 66,596,483.00 58 29-June-04 Thai long grain white rice 2,800 19,798,334.00 59 29-June-04 Thai long grain white rice 3,100 22,007,371.00 60 29-June-04 75514 Long grain white rice 14,520 101,888,575.00 TOTAL 340,470 MT P2,248,663,157.00