The Philippine National Police, in its bid to modernize its services and professionalize its officials and personnel, needs the much-needed support in terms of appropriations from the national government. This bill aims to plug this open loophole and provide the PNP a discretion to retain and use its collected revenues from its regulatory functions such as licensing, registration, and issuance of permits. It rationalizes the fees and charges of firearms, ammunition, spare parts, accessories, components, explosives, explosive ingredients, pyrotechnics and firecrackers to more realistic rates with consideration of industry concerns.