DA to distribute P500-M fuel subsidy to farmers, fishers this March

The Department of Agriculture will distribute fuel subsidies to farmers and fishermen this March to ease the impact of recent series of hikes in pump prices, Secretary William Dar said Friday.

At the Laging Handa public briefing, Dar said a P500-million budget has been prepared for the fuel subsidy.

“Mayroon na rin kaming ibibigay nitong Marso, 'yung fuel subsidy, para 'yung epekto ng petroleum prices na tumataas ay maibsan nang kaunti (We will give fuel subsidy this March to slightly ease the effect of high petroleum prices). The P500 million is now ready to be given this March,” he said.

He added the DA, Department of Budget and Management, and Department of Energy will create a memorandum circular to set the guidelines for the distribution of assistance.

According to Dar, the P500 million funds will be distributed to corn farmers and fishermen.

For farmers’ financial assistance, the DA targets to give more or less P5,000 each to 1.8 million farmers, Dar said.

He said the exact amount of the fuel subsidy for corn farmers and fishers is still being discussed.

On February 28, pump prices of petroleum products increased for the ninth straight week, adding to prices which have already hit as high as P80 per liter in select areas in the country.

Dar said they already submitted to Malacañang proposed measures that could address the possible further increase on the prices of basic commodities.

These include boosting local production using innovation and technologies, providing fertilizers and seedlings to farmers, and mobilizing food from surplus areas to metropolitan areas where supply is limited, he added.—AOL, GMA News