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Thursday, March 28, 2024

Binay urges early release of PUV fuel subsidy fund

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Senator Nancy Binay called on the Department of Budget and Management (DBM) to immediately release to funds for the provision of fuel subsidies for public utility vehicles (PUVs).

The government has allocated P2.5 billion for the fuel subsidy. Binay issued the call as PUV drivers are feeling the heat with a steady rise in oil prices for the seventh week in a row now.

“Our public transport sector workers are hurting. This is the only time they will recover since they have lost their earnings due to the pandemic,” Binay said, adding that the subsidies are needed due to the continued rise in process of gasoline.

According to Budget Undersecretary Tina Rose Marie L. Canda, the Dubai crude benchmark used as basis for the release of funds for the fuel subsidy program of the 2022 General Appropriations Act had already been breached.

She said the agency had already received the request of both the Department of Transportation (DOTr) and the Land Transportation Franchising and Regulatory Board for the release of the funds. However, the DBM is still waiting for an additional requirement from the DOTr before it can release the subsidy.

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While the budget for the program has been approved under the General Appropriations Act of 2022, the LTFRB is still awaiting the release of the funds from the Department of Budget and Management.

The program, it said, will have a total 377,443 beneficiaries who will receive a fuel subsidy amounting to P6,500. These beneficiaries will include franchise grantees of traditional and

modern PUVs, buses, mini-buses, taxis, UV Express, transport network

vehicle services, and tourist transport services. Another P500 million was also set aside for fuel discounts to farmers and fisherfolk under the Department of Agriculture.

Binay appealed for compassion and greater urgency from the national government to release the funds.

A group of jeepney drivers and operators earlier warned of a transport strike if the government fails to act on its petition for a P2 fare hike as oil firms are seen to increase pump prices anew by nearly P1 per liter on Tuesday, marking the eight straight week of increases. With Alena Mae Flores

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