LTFRB to Distribute Fuel Subsidy Next Week

IMG Source:

MANILA, Philippines — After President Duterte recently signed the economic security measures recommended by his Economic Team amid the Russia-Ukraine crisis’ global impacts (among these is the approval for the Department of Energy to implement the P2.5-billion Pantawid Pasada or fuel subsidy) the Land Trannsportation Franchising and Regulatory Board (LTFRB) announced on March 10 that distribution of fuel vouchers to qualified public utility vehicle (PUV) drivers will be given out starting next week.

LTFRB Executive Director Kristina Cassion said, “We confirm that the funds have already been released by the DBM (Department of Budget and Management) and the LTFRB will start distributing [the subsidy] next week.”

Regarding the specific date of the distribution, Cassion said they have yet to find out by March 11 after a meeting with Land Bank.

The subsidy will be in the form of fuel cards or vouchers, and will be handed to the targeted 377,000 beneficiaries.

Another PHP2.5 billion is set to be released for the second tranche of fuel subisdy in April.

Meanwhile, the Department of Budget and Management has also released PHP 500 million for the Department of Agriculture’s fuel discount program that will see around 80,000 fishermen as beneficiaries, also among the measures approved by the president.

Sources: Inquirer, Philippine News Agency

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