The Department of Budget and Management (DBM) has approved and released two Special Allotment Release Orders (SAROs) involving the light tank and wheeled armored personnel carrier (APC) acquisition projects for the Philippine Army under the current Armed Forces of the Philippines (AFP) modernization program.
The first SARO has an amount of PHP 1,422,649,800.00, “to cover the funding requirements for the fifteen percent (15%) Advance Payment of the Light Tank Acquisition Project for the Philippine Army under the Revised Armed Forces of the Philippines Modernization Program.”
The second SARO amounts to PHP 339,780,000.00, “to cover the funding requirements for the fifteen percent (15%) Advance Payment of the Wheeled Armored Personnel Carrier Acquisition Project for the Philippine Army under the Revised Armed Forces of the Philippines Modernization Program. “
(Mintfo)