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May 27, 2024

DBM releases P3 billion as fuel subsidy and discounts for the most vulnerable

The government on Thursday acted quickly and released P3 billion from this year’s budget to underwrite the fuel subsidy and discount programs approved earlier by President Duterte.

Funds worth P2.5 billion were sourced from the budget allocation of the Department of Transportation to finance the fuel subsidy program more known as the Pantawid Pampasada Program and another P500 million from the budget of the Department of Agriculture to finance a separate fuel discount scheme.

Under the fuel subsidy program, eligible jeepney, UV Express, mini buses, shuttle service, taxis, tricycles and full-time ride-hailing service drivers will directly receive P6,500 each from the implementing agencies.

The government has identified 377,443 beneficiaries who will benefit from cash cards to be distributed by state-owned Land Bank of the Philippines.

The farmer and fisherfolk beneficiaries of the separate fuel discount program identified either individually or through organizations will benefit from fuel discount cards dispensed by the Development Bank of the Philippines.

The fuel discounts may be redeemed at participating oil companies or gas stations up to P3,000 per person.

Budget officials vowed to work closely with the implementing entities to ensure the timely release of the discounts for the most vulnerable.