Philippine National Railways (2)

September 25, 1992 FIRB RESOLUTION NO. 042-92 SUBJECT : Philippine National Railways (2) BE IT RESOLVED, AS IT IS HEREBY RESOLVED, to amend the validity date of Certificate of Entitlement to Subsidy No. 0088, issued in favor of the Philippine National Railways, pursuant to FIRB Resolution No. 26-92 (Endorsing to the Department of Budget and Management the subsidy availment of the Philippine National Railways in the amount of P129 million only , representing the taxes and duties due on its importations, broken down as follows: (1) P117 million only, in connection with its Metro Manila Rail Commuter Maintenance Depot Construction Project; and (2) P12 million only, in connection with its Main Line South Revitalization Project, both of which are contracted pursuant to a Loan Agreement with the Overseas Economic Cooperation Fund) from September 30, 1992 to December 15, 1992: 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.) MA. CECILIA G. SORIANO Acting Secretary of Finance Chairman FIRB Reference : Letter-request of the Philippine National Railways dated September 7, 1992 FIRB Resolution No. Amount 13-92 P75 million 26-92 129 million P204 million =========