Fertilizer and Pesticide Authority (1)

November 5, 1993 FIRB RESOLUTION NO. 034-93 SUBJECT : Fertilizer and Pesticide Authority (1) BE IT RESOLVED, AS IT IS HEREBY RESOLVED, to amend the scope of subsidy availment previously granted in favor of the Fertilizer and Pesticide Authority, pursuant to FIRB Resolution No. 9-93 (Renewal of 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 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), to include in the subsidy availment of P34,931,440.07 the duties due on its importations of fertilizers for the third and fourth quarters of 1992, as well: 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: (1) settling its existing accounts with the Bureau of Customs and; (2) seeing through the completion of the reactions of the Department of Agriculture on the NEDA Aide Memoire on the impact of tax subsidy on imported fertilizers to farmers and its immediate submission to the FIRB, and that any failure to do so shall be a ground for the FIRB not to act on any subsidy application therefrom. aisadc (SGD.) JUANITA D. AMATONG Undersecretary of Finance Presiding Officer References : FIRB Technical Committee meeting dated October 22, 1993 FIRB meeting dated November 4, 1993