Philippine National Railways (2)
FIRB Resolution No. 011-96 • Fiscal Incentives Review Board • Resolutions • Feb 20, 1996
Full text
February 20, 1996 FIRB RESOLUTION NO. 011-96 SUBJECT : Philippine National Railways (2) BE IT RESOLVED, AS IT IS HEREBY RESOLVED, to approve the application for tax subsidy of the Philippine National Railways, in the amount of P97,151,548.75 only representing the duties and taxes due on its importation of various materials and supplies in connection with the Main Line South Revitalization Project: Provided , That the PNR shall undertake vigorous efforts and initiatives to finalize the privatization plan therefor within the soonest possible time and furnish a copy thereof to the FIRB: Provided further , That such availment shall be in accordance with the terms and conditions of Section 12 of the 1996 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.) MA. CECILIA G. SORIANO Undersecretary of Finance Presiding Officer FIRB References : FIRB Technical Committee Meeting dated January 26, 1996 FIRB Meeting dated February 19, 1996 Resolution No. Amount 5-96 (renewal) P10.47 million 11-96 (new) 97.15 Total P107.62 million =========
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