LTFRB asks DBM to expedite release of fuel subsidy funds

The Land Transportation Franchising and Regulatory Board (LTFRB) said they had appealed to the Department of Budget and Management (DBM) to expedite the release funds for the public utility vehicle drivers’ fuel subsidy even if the “three-month rule” to trigger the program’s rollout had not yet been met.

“We have already submitted to the DBM the pertinent documents. Nanawagan tayo to expedite the downloading of the funds (we are appealing to expedite the downloading of the fund),” LTFRB Executive Director Maria Kristina Cassion said during Saturday's Laging Handa briefing.

The LTFRB, last week, said the Department of Transportation had requested the DBM for funds to cover 377,443 beneficiaries who would be receiving fuel subsidies amounting to P6,500 each, or a total of P2,453,379,500.

Cassion said the impact of the continuous increase in fuel prices on the public transportation sector had to be addressed immediately, thus the agency called on the Budget Department to fast-track the release of funds for the fuel subsidy program.

However, she said that the 2022 General Appropriations Act (GAA) had a provision that the fuel subsidy funds could only be released if the Dubai crude oil price for three months averaged or exceeded $80 per barrel.

This means the data for March was still needed to find the three-month average of Dubai crude oil.

Dubai crude oil traded at $91.56 per barrel as of February 25, according to data from Investing.com. Its price has been breaching the $80 per barrel level since January 2022.

“Pinakikiusapan natin… maging liberal sana ang DBM on the interpretation dahil ang spirit of the law is to cushion the effect of the fuel price [hikes],” Cassion said.

(We are appealing… for the DBM to be more liberal in interpreting the law because its spirit is to cushion the effect of fuel price hikes.)

The LTFRB official said the fuel subsidy program was expanded to include, not just jeepney drivers, but also Public Utility Buses (PUBs), Minibuses, Taxis, UV Express, Transport Network Vehicle Service (TNVS), Tourist Transport Service (TTS), even tricycle drivers under the Department of the Interior and Local Government (DILG), as well as Delivery Services under the Department of Trade and Industry (DTI) and Department of Communications and Technology (DICT).

The Duterte administration’s economic managers on Thursday said that the government was ready to provide targeted relief assistance to alleviate the impact of the recent spike in petroleum prices to affected sectors.

Meanwhile, Cassion said the LTFRB will hear and study petitions for fare increase.

"Ito ay naka-set for hearing ngayong March 8 (This is set for hearing on March 8)," she said. — DVM, GMA News