| Special
Provision(s) |
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| 1.
Use of the Fund. Except where otherwise stated, the amounts herein appropriated may be
used as subsidy and/or equity investment to GOCCs: PROVIDED,
That payment of salaries, allowances and other benefits shall be in accordance with P.D.
No. 985 and R.A. No. 6758, as amended, and R.A. No. 7305 and that retirement gratuities
paid from this fund shall be computed in accordance with the rates, conditions and
procedures prescribed under existing retirement laws, rules and regulations: PROVIDED, FURTHER, That this fund may be used for
payment of retirement or separation benefits, in accordance with existing laws, of
personnel of government-owned and/or controlled corporations which are financially unable
to pay said benefits, subject to the submission and approval of a streamlining program, as
well as other measures that will enhance the efficiency and effectiveness of the GOCC
concerned: PROVIDED, FURTHERMORE, That in no
case shall equity investments be used for salaries, allowances, retirement gratuities and
other benefits, except in cases authorized by the Department of Budget and Management
(DBM): AND PROVIDED, FINALLY, That releases
shall be subject to Section 35, Chapter 5, Book VI of E.O. No. 292 and Letter of
Implementation No. 29. |
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| 2.
Special Compensation and Other Benefits. GOCCs, including
government financial institutions (GFIs), legally enjoying special compensation and other
benefits which are superior to those authorized under R.A. No. 6758, as amended, shall be
governed by such special laws, subject to the approval of the President of the
Philippines. As such, they shall not be
entitled to the benefits accruing to government employees covered by the compensation
standardization scheme. |
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| 3.
Fund Releases for Budgetary Support to Government
Corporations. Funds
herein appropriated shall be under the administration of the DBM. Said funds shall be directly released to the
recipient corporation through the Bureau of the Treasury.
All requests for fund releases for subsidies or equity investments to government
corporations shall be included in their respective Corporate Operating Budgets (COBs) duly
approved by their respective Governing Boards. |
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| 4.
Offsets Against Budgetary Support to Government
Corporations. The
appropriations herein authorized may be offset by the Bureau of the Treasury against the
corporate payments of cash dividends under R.A. No. 7656, guarantee fees, advances for the
loans relent to corporations, obligations which are guaranteed by the Government of the
Republic of the Philippines, and other receivables of the National Government from the
corporations. If the total level of actual
revenues at the end of the immediate past year, liquid assets e.g., cash and short-term
investments, bond investments and other fund sources of the government corporation exceed
the corresponding projections considered in the formulation of the current year’s
budgetary support program, the excess may be deducted from the said program and the
budgetary support may be reduced to the extent of such favorable result. |
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| 5.
Submission of Corporate Operating Budgets (COBs) and Other
Related Financial Statements. All government-owned and/or controlled
corporations, including government financial institutions, shall submit through the
Secretary of Budget and Management their respective FY 2003 corporate operating budgets
duly approved by the Governing Board of the Corporations for consideration and approval of
the President of the Philippines. The
corporate operating budgets shall be prepared following the procedures and guidelines
prescribed for the purpose to be evaluated as part of the budget process by the Secretary
of Budget and Management pursuant to the provisions of E.O. No. 518 dated January 23, 1979
and the Administrative Code of 1987: PROVIDED,
That the Philippine National Oil Company (PNOC), the National Power Corporation (NPC) and
the National Electrification Administration (NEA) shall be governed further by the
requirements of R.A. No. 7638. |
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| 6.
Submission of Quarterly Reports. GOCCs shall submit to the
House Committee on Appropriations, the Senate Committee on Finance and the Department of
Budget and Management their quarterly corporate financial, physical and narrative
accomplishment reports within thirty (30) days after the end of each quarter. |
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| 7.
Subsidy for Projects of the National Electrification
Administration. The
amount herein appropriated for NEA shall be used exclusively for rural electrification
projects and shall in no case be used for salaries, wages, honoraria, allowances,
separation benefits and similar personnel benefit expenditures: PROVIDED, That the appropriation for rural
electrification projects shall be equitably allocated:
PROVIDED, FURTHER, That such subsidy releases may be used to cover loans outlays to
electric cooperatives: PROVIDED, FINALLY,
That the amount corresponding to the grants to the electric cooperatives shall remain as
subsidy. |
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| 8.
Subsidy to the National Food Authority. The amount herein
appropriated for NFA shall be used exclusively for the price stabilization and food
security program of the National Food Authority (NFA).
The NFA shall buy directly from farmers or their organizations, whose names
together with the quantity purchased and the price paid shall be posted by NFA in a list
verified under oath in the municipality where the farmers live: PROVIDED, That funds for the purpose shall be
released in time for the harvest season: PROVIDED,
FURTHER, That in case of calamities or fortuitous events or shortfall in production, such
amount or a portion thereof, may be used for the importation of rice and corn as
recommended by the National Food Authority Council and approved by the President: PROVIDED, FINALLY, That the pricing scheme for
imported rice and corn shall, as far as practicable, consider the full cost recovery. |
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| 9.
Report on Rice Stocks. All warehouses duly licensed or accredited by the
NFA shall, within thirty (30) days after the end of each quarter, submit to the NFA
Administrator a quarterly report on actual rice stocks
in their warehouse as of the end of |
| each
quarter. The NFA Administrator shall furnish
the Congressional Oversight Committee on Agriculture and Fisheries Modernization copy of
the consolidated quarterly report on actual rice stock. |
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| 10. Subsidy to the National Housing Authority. The appropriations
herein authorized for NHA shall be released upon submission of the listing and details of
projects to be approved by the National Housing Authority (NHA) Board. The funds shall, as far as applicable, be
equitably allocated by legislative district: PROVIDED,
That the amount appropriated for Resettlement and Medium Rise Public and Private Housing
Programs shall be released in accordance with the implementing rules and regulations of
R.A. No. 7835 dated December 16, 1994 providing for a Comprehensive and Integrated Shelter
and Urban Development Financing Program issued by the Housing and Urban Development
Coordinating Council: PROVIDED, FURTHER, That
the appropriation herein authorized for Medium-Rise Public and Private Housing Programs
shall constitute the Trust Fund to be managed and administered by the NHA in accordance
with the implementing rules and regulations of R.A. No. 7835: PROVIDED, FINALLY, That NHA shall submit reports
indicating, among others, the breakdown of disbursements made for the aforesaid programs
to the Senate and House Committees on Housing, Senate Committee on Finance and House
Committee on Appropriations. |
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