Section 12Sec./Art. 12

Importation of Capital Equipment. - From the date the National Telecommunications Commission first granted the original franchise under Republic Act No. 7372 a permit to purchase capital equipment, the grantee shall be allowed for a period of three (3) years therefrom, to import all its capital equipment, including its accessories and peripherals, and other equipment and facilities directly related to and associated with the services herein granted which shall be subject to the approval of the National Telecommunications Commission, on a tax and duty-free basis.