By Othel V. Campos Posted on Jan. 31, 2013 at 12:00am
The Trade Department is negotiating to increase the maximum number of companies allowed under the Industry Competitiveness Fund and possibly include the fund in the annual budget.
“We are preparing a program that will continue the implementation of the ICF and provide it with strong legal support like including it in the succeeding [General Appropriations Act],’’ Trade Undersecretary Cristino Panlilio said.
The ICF is a program extended to big manufacturing companies to subsidize their power costs. The program expired in 2011, but there are still companies who are still enrolled in the program.
Among the last few companies benefiting from the fund is Phoenix Semiconductors Philippines Corp., whose ICF is valid until 2020. source
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