LTFRB Announces Fuel Subsidy for PUV Drivers & Operators Will Be Released Next Week
FUEL SUBSIDY – LTFRB will start to distribute the P6, 500 fuel subsidy to the drivers and operators starting next week.
The Land Transportation Franchising and Regulatory Board will start providing fuel subsidies for drivers and operators of public utility vehicles. The fuel subsidy aims to help the Filipino drivers struggling amid the surging prices of petroleum products.
LTFRB executive director Tina Cassion made the announcement after the Department of Budget and Management (DBM) released the funds for the program. DBM allocates P2.5 billion and P500 million in funds.
“We confirm that the funds have already been released by the DBM and the LTFRB will start distributing next week,” Cassion said.
Cassion explained that DBM allocates P2.5 billion for the fuel subsidies for the public transport utility, which aims to provide fuel vouchers worth P6, 500 to over 377,000 PUV drivers.
The program covers PUV drivers operating jeepneys, UV express, taxis, tricycles, and other full-time ride-hailing and delivery services.
Meanwhile, DA also allocates P500 million fund to provide fuel discounts to farmers and fisherfolk operating motorized vehicles or machines used for harming and harvest.
The LTFRB chief would have meeting with the Land Bank of the Philippines today (March 11, 2022) for the exact date of P6, 500 fuel subsidy distribution.
The National Economic and Development Authority (NEDA) proposed the increase of fuel subsidy due to the consecutive hike on prices of petroleum products amid Ukraine-Russia war.
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