DA to continue fuel aid for fisherfolk, fast-track funding

The Department of Agriculture–Bureau of Fisheries and Aquatic Resources (DA-BFAR) will continue providing fuel subsidies to fisherfolk nationwide to help cushion the impact of surging fuel prices, the agency said Saturday.

In a statement, DA-BFAR said it would keep distributing assistance using its remaining funds while finalizing a supplemental agreement with the Development Bank of the Philippines (DBP).

The agreement is expected to provide an additional P50 million in subsidies, benefiting around 15,000 more fisherfolk across the country.

“Global fuel volatility should not come at the expense of our fisherfolk’s survival. We are moving promptly to ensure assistance reaches them without delay, because keeping our fishing boats running means keeping food on Filipino tables and sustaining livelihoods,” Agriculture Secretary Francisco Tiu Laurel Jr. said.

The continued distribution of subsidies comes as oil prices surge due to ongoing tensions in the Middle East.

Under DA-BFAR’s Fuel Assistance Program, eligible fisherfolk receive a one-time P3,000 subsidy through cash cards or vouchers. More than 10,000 beneficiaries have reportedly received aid so far.

The program aims to protect fisherfolk's livelihoods and safeguard the country’s food security amid rising fuel costs.

The agency added it is working with DBP to fast-track the agreement to expedite the release and distribution of additional funds.

Meanwhile, the DA assured that the country’s food supply remains stable despite the oil price hikes.

Fuel prices are expected to rise further next week, with projected increases of:

• Diesel: P16.50 to P17.50 per liter
• Gasoline: P7.50 to P8.50 per liter

—MCG, GMA Integrated News