Philippine National Railways (4)
FIRB Resolution No. 058-90 • Fiscal Incentives Review Board • Resolutions • Dec 11, 1990
Full text
December 11, 1990 FIRB RESOLUTION NO. 058-90 SUBJECT : Philippine National Railways (4) BE IT RESOLVED, AS IT IS HEREBY RESOLVED, to endorse to the Department of Budget and Management the subsidy availment of the Philippine National Railways in the amount of P4,106,117 . 00 only representing the taxes and duties due on its importations of materials for the year 1989, in connection with its Metro Manila Rail Commuter Maintenance Depot Construction Project: 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, further , That the beneficiary 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. (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) 8-90 P20.00 25-90 23.30 43-90 3.14 P46.44 ======
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