The Uy-controlled oil firm qualified that it has sited its SPTT facility at the Subic Bay Metropolitan Authority (SBMA) freeport so it can avail of the relatively viable tax incentives.
SPTT has been sourcing fuel from offshore via letter of credit, utilizing the shared credit facilities of Phoenix Petroleum with some of its banks.
"Due to the capital deficiencies on SPTT's balance sheet, banks increase the interest cost or cause the temporary unavailability of the credit facility to SPTT," Phoenix Petroleum explained.
Data requirements of the SPTT include reporting of fishery statistics and biological data from the catches.
The fishing season used is the calendar year, January-December, which is different from the "SPTT year," 15 June of one year to 14 June of the next year.
fleet of 40 purse seiners fished in the SPTT area and completed a total of 175 fishing trips.
The fleet continued to experience declining overall catch rates, with 1996 producing the poorest rate since the start of the SPTT agreement.
is entitled to tax and duty-free importation of raw materials, capital equipment and household and personal items for use within the Subic Bay Freeport Zone.
But Stephanie, who now lives in France where she plays for SPTT
Albi in the women's premier league, hit back: "Are u actually for real?
The Government also established the Institute for Drugs and Drug Addiction (IDT) by merging the Portuguese Institute for Drugs and Drug Addiction (1PDT) with the Portuguese Service for the Treatment of Drug Addiction (SPTT