Light Rail Transit Authority (4)

December 11, 1990 FIRB RESOLUTION NO. 056-90 SUBJECT : Light Rail Transit Authority (4) BE IT RESOLVED, AS IT IS HEREBY RESOLVED, to endorse to the Department of Budget and Management the subsidy availment of the Light Rail Transit Authority in the amount of P17,435,225 . 00 only, representing the taxes and duties due on its importations for June to December, 1990: Provided , That such amount shall be chargeable against the 1990 Tax Expenditures Fund, 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, however , That such subsidy availment shall be the last to be endorsed for the LRTA: Provided, finally , That instead of relying on said subsidy availment in meeting its tax and duty obligations, the LRTA shall conduct a thorough review of its fare structure for purposes of making the same more realistic and submit details of actions undertaken thereon to the FIRB not later than March 31, 1991. cdt (SGD.) JESUS P. ESTANISLAO Secretary of Finance Chairman FIRB References : FIRB Technical Committee Meeting dated December 4, 1990 FIRB Meeting dated December 10, 1990 Subsidy Availment Previously Endorsed: FIRB Resolution No. Amount (Million) 6-90 P2.40 17-90 7.05 42-90 5.32 P14.77 =====