Financing

Published on February 2018 | Categories: Documents | Downloads: 89 | Comments: 0 | Views: 1577
of 13
Download PDF   Embed   Report

Comments

Content

 June

18, 1988  Was supposed to be only for a period of 10 years  Enumerated the sources of funding

 

 



(a) Proceeds of the sales of the Assets Privatization Trust; (b) All receipts from assets recovered and from sales of ill-gotten wealth recovered through the Presidential Commission on Good Government; (c) Proceeds of the disposition of the properties of the Government in foreign countries; (d) Portion of amounts accruing to the Philippines from all sources of official foreign grants and concessional financing from all countries, to be used for the specific purposes of financing production credits, infrastructures, and other support services required by this Act; (e) Other government funds not otherwise appropriated.



Structural reforms have been instituted in the public sector since 1986. The government embarked on a privatization program that was authorized under Proclamation No. 50 issued on December 8, 1986. This program was implemented by the Asset Privatization Trust (APT) under the guidance of an inter-agency Committee on Privatization (COP) and intended to reduce substantially the size of the government corporate sector by limiting government corporations to areas where private sector involvement is not feasible, or where intervention can favor disadvantaged sectors of society. The term of the COP and APT expired on December 31, 2001.



 

Sec. 20 created the Agrarian Reform Fund worth FIFTY BILLION PESOS Period was from 1987 to 1992 Sourced from receipts of the sale of the assets of the Asset Privatization Trust (APT) and receipts of sale of ill-gotten wealth recovered through the Presidential Commission on Good Government and such other sources as government may deem appropriate.





Sec. 21 TWO BILLION SEVEN HUNDRED MILLION PESOS Cover the supplemental requirements for the CARP for 1987



 



Amended Sec. 63 of RA 6657 Period was moved up until the year 2008 Additional amounts necessary for this purpose are hereby authorized to be appropriated in excess of the initial funds, amounting to Fifty billion pesos (P50,000,000,000.00) provided under Sections 20 and 21 of Executive Order No. 229. "The additional amount hereby authorized to be appropriated shall in no case exceed Fifty billion pesos (P50,000,000,000.00).





"d) All income and collections arising from the agrarian reform operations, projects and programs of CARP implementing agencies; "f) Yearly appropriations of no less than Three billion pesos (P3,000,000,000.00) from the General Appropriations Act;





Further amended Sec. 63 of RA 6657 The amount needed to further implement the CARP as provided in this Act, until June 30, 2014, upon expiration of funding under Republic Act No. 8532 and other pertinent laws, shall be funded from the Agrarian Reform Fund and other funding sources in the amount of at least One hundred fifty billion pesos

 





(a) Proceeds of the sales of the Privatization and Management Office (PMO); “b)All receipts from assets recovered and from sales of illgotten wealth recovered through the PCGG excluding the amount appropriated for compensation to victims of human rights violations under the applicable law; "(c) Proceeds of the disposition and development of the properties of the Government in foreign countries, for the specific purposes of financing production credits, infrastructure and other support services required by this Act; "(d) All income and, collections of whatever form and nature arising from the agrarian reform operations, projects and programs of the DAR and other CARP implementing agencies;





 

"(e) Portion of amounts accruing to the Philippines from all sources of official foreign. aid grants and concessional financing from all countries, to be used for the specific purposes of financing productions, credits, infrastructures, and other support services required by this Act: "(f) Yearly appropriations of no less than Five billion pesos (P5,000,000,000.00) from the General Appropriations Act; "(g) Gratuitous financial assistance from legitimate sources; and "(h) Other government funds not otherwise appropriated.



"All funds appropriated to implement the provisions of this Act shall be considered continuing appropriations during the period of its implementation: Provided, That if the need arises, specific amounts for bond redemptions, interest payments and other existing obligations arising from the implementation of the program shall be included in the annual General Appropriations Act: Provided, further, That all just compensation payments to landowners, including execution of judgments therefore, shall only be sourced from the Agrarian Reform Fund: Provided, however,



That just compensation payments that cannot be covered within the approved annual budget of the program shall be chargeable against the debt service program of the national government, or any unprogrammed item in the General Appropriations Act: Provided, finally, That after the completion of the land acquisition and distribution component of the CARP, the yearly appropriation shall be allocated fully to support services, agrarian justice delivery and operational requirements of the DAR and the other CARP implementing agencies."

Sponsor Documents

Or use your account on DocShare.tips

Hide

Forgot your password?

Or register your new account on DocShare.tips

Hide

Lost your password? Please enter your email address. You will receive a link to create a new password.

Back to log-in

Close