LTFRB Says Over 155k PUV Operators & Drivers Received Fuel Subsidy

Over 155k PUV Operators & Drivers Received Fuel Subsidy,LTFRB Says

FUEL SUBSIDY – LTFRB said that over 155, 000 PUV operators and drivers have already received their fuel subsidy.

During this modern generation, the prices of petroleum products play a very important role to the country’s economy. Pump price adjustment usually causes significant impact on prices of products and services in the country.

The oil prices continue to increase over the past few weeks and the hike gets worse due to the Russia-Ukraine war. The unexpected increase severely affect the transport sector and other businesses.

LTFRB

Filipino drivers were already complaining regarding the consecutive hikes and sought fuel subsidy from the government.

On Wednesday (March 23, 2022), the Land Transportation Franchising and Regulatory Board (LTFRB) reported that around 115,000 public utility vehicle (PUV) drivers and operators have received their fuel subsidy amid the surging prices of petroleum products.

LTFRB regional director Zona Russet Tamayo said that over 377,000 PUV drivers and operators will benefit from fuel subsidy program of the government. The government allocates P2.5 billion for the program.

“Mula nang tayo’y magsimulang magbigay ng fuel subsidy ng March 15, umabot na sa around 115,000 na beneficiaries po ng fuel subsidy ang naipamahagi na natin,” Tamayo said.

Fuel Subsidy

The government distribute the subsidy for the PUV drivers through the Landbank of the Philippines. The agency and the bank were processing the subsidies for the drivers under transport network vehicle service and UV express.

The agency’s chief ix expecting to complete the distribution by next week. Meanwhile, the local government units will be the one to distribute the subsidies for tricycle drivers. LTFRB is working together with DILG to identify the qualified beneficiaries.

What can you say about this report? Just feel free to leave your comments and reactions to this article.

Thank you for visiting Philippine Trending News (Philnews.ph). You may also follow us on the following social media platforms; FacebookTwitter, and YouTube

Read Also: Experts Claim Oil Price Rollbacks May Not Continue In Upcoming Days

Leave a Comment