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LTFRB to start distribution of P6,500 fuel subsidy to PUV drivers, operators next week
By TED CORDERO,GMA NewsThe Land Transportation Franchising and Regulatory Board (LTFRB) on Thursday said it will begin the distribution of fuel subsidies to public utility vehicles (PUV) drivers and operators next week after the Department of Budget and Management (DBM) released the funds for the program.
“We confirm that the funds have already been released by the DBM and the LTFRB will start distributing next week,” LTFRB executive director Tina Cassion told reporters in a Viber group message.
Budget officer-in-charge Undersecretary Tina Rose Canda confirmed that the DBM already released
P2.5 billion and P500 million in funds for the fuel subsidies for the public transport utility and the agriculture sectors, respectively.Under the 2022 budget, P2.5 billion is allocated to the Fuel Subsidy Program of the DOTr, which aims to provide fuel vouchers worth P6,500 to over 377,000 qualified PUV drivers who are operating jeepneys, UV express, taxis, tricycles, and other full-time ride-hailing and delivery services nationwide.
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On the other hand, the DA has a budget of P500 million to provide assistance through fuel discounts to farmers and fisherfolk who either individually own and operate agricultural and fishery machinery or operate through a farmers organization or cooperative.
Cassion said the LTFRB and the Land Bank of the Philippines will have a meeting on Friday to set the exact date of distribution of the P6,500 fuel subsidies in the coming week.
The released funds form part of the first tranche of fuel subsidies to be released by the DBM after the National Economic and Development Authority (NEDA) proposed to hike the funds for the fuel voucher program amid the continued spike in petroleum prices due to the Ukraine-Russia war.—AOL, GMA News