National Electrification Administration (1)

February 17, 1992 FIRB RESOLUTION NO. 017-92 SUBJECT : National Electrification Administration (1) BE IT RESOLVED, AS IT IS HEREBY RESOLVED, to lift the last subsidy availment condition pursuant to FIRB Resolution No. 3-91, as amended, which provides that such availment is the last one for the National Electrification Administration and that henceforth electric cooperatives which are the ultimate beneficiaries of its importations under the rural electrification program should register with the Cooperative Development Authority for purposes of qualifying them for tax and duty exemptions, in view of the fact that implementing rules and regulations to effect their registration are still in process and in order to effectively support the rural electrification program. BE IT FURTHER RESOLVED, AS IT IS HEREBY RESOLVED, to endorse to the Department of Budget and Management the subsidy availment of the National Electrification Administration in the amount of P176 . 86 million only, representing the taxes and duties due on its importations, in connection with the rural electrification program: Provided , That such availment shall be in accordance with the terms and conditions of Section 15 of the 1992 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.) JESUS P. ESTANISLAO Secretary of Finance Chairman FIRB References : FIRB Technical Committee Meeting dated February 7, 1992 FIRB Meeting dated February 14, 1992