The Department of Budget and Management (DBM) said it has approved the release of P3 billion as fuel subsidy to drivers and operators affected by increasing fuel prices.
The Fuel Subsidy Program (FSP) aims to provide assistance to about 1.36 million drivers and operators, who were affected by the series of oil price hikes for more than two months now.
The one-time fuel subsidy has varying rates, depending on the applicable mode of transportation, the DBM said.
The modernized public utility jeepney (MPUJ) and modernized utility vehicle express (MUVE) will each receive P10,000; traditional PUJ, traditional UVE, public utility buses, minibuses, taxis, shuttle service taxis, transport network vehicle services, tourist transport services, school transport services, and Filcabs to each get P6,500 in subsidy; tricycles, P1,000; and delivery services, P1,200, the DBM said in a statement Friday.
As provided in the draft memorandum of agreement submitted by the DOTr, the subsidy shall be released to the DOTr Office of the Secretary, which shall in turn, fully transfer the amount to the LTFRB, as the implementing agency, it added.
Based on the master list of eligible beneficiaries certified by the LTFRB, DICT, DTI, and the DILG, the Land Bank of the Philippines shall distribute the subsidies through the identified modes of payment, upon receipt of instructions from the LTFRB on the procedures, mechanics, and the agreed schedule.
The Land Bank shall provide the DOTr and the LTFRB the required reports of its successful crediting of the predetermined amounts, in accordance with the timelines provided in the MOA, or as needed, for purposes of monitoring.
“Transportation is the lifeblood of our economy,” DBM Secretary Amenah Pangandaman said in a Presidential Communications Office report.
The Department of Transportation said the subsidy would be distributed as fuel vouchers. ||
