Fertilizer And Pesticide Authority (3)

December 7, 1992 FIRB RESOLUTION NO. 055-92 SUBJECT : Fertilizer And Pesticide Authority (3) BE IT RESOLVED, AS IT IS HEREBY RESOLVED, to endorse to the Department of Budget and Management 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: 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: Provided, Further , 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: Provided, Furthermore , 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 settling its existing accounts with the Bureau of Customs and that any failure to do so shall be a ground for the FIRB not to act on any subsidy application therefrom. (SGD.) RAMON R. DEL ROSARIO, JR. Secretary of Finance Chairman FIRB References : FIRB Technical Committee meeting dated December 2, 1992 FIRB meeting dated December 3, 1992 FIRB Resolution No. Amount 27-92 P28,342,630.00 49-92 876,592,976.00 53-92 72,781,496.27 TOTAL P977,717,102.27 ============