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DBM retains fuel subsidies for PUVs, farmers in proposed 2024 budget

The Department of Budget and Management (DBM) said on Thursday it has retained the budget allocations for fuel subsidies for the public transport and agriculture sectors in next year’s expenditure plan.

At a Palace briefing, Budget Secretary Amenah Pangandaman said that it allocated P2.5 billion for fuel subsidies for public utility vehicle (PUV) operators and drivers under the Department of Transportation’s (DOTr) proposed budget.

“The fuel subsidy program under the DOTr, it’s the same level that we proposed in 2023… for the proposed 2024 budget it’s [still] P2.5 billion,” Pangandaman said.

The DOTr’s fuel subsidy program provided over P6,000 in fuel vouchers to qualified PUV, taxi, tricycle, and full-time ride-hailing and delivery service drivers nationwide, aimed at cushioning the impact of high oil prices on thousands of PUV drivers.

“Similar to our fuel assistance program under the Department of Agriculture, it’s the same at P1 billion in 2024 NEP (National Expenditure Program),” Pangandaman said.

The DA's fuel subsidy program provided P3,000 worth of fuel discounts to more than 300,000 farmers and fisherfolk in a bid to ensure unimpeded agricultural production despite rising fuel costs.

On Wednesday, the DBM submitted the P5.768-trillion NEP or the proposed national budget for 2024 to the House of Representatives. 

The amount is 9.5% higher than this year’s P5.268-trillion budget.

Once approved by Congress, the NEP will be known as the proposed General Appropriations Act, which will be submitted to President Ferdinand Marcos Jr. for his signature. — VBL, GMA Integrated News