DBM: P238B in funds available for gov't response vs. rising oil prices

At least P238 billion in funds are available for the government’s aid programs and other high-impact initiatives amid the unstoppable increase in fuel prices, Acting Budget Secretary Rolando Toledo said on Wednesday.

“To respond to the crisis we are experiencing, we have identified around P238 billion from available appropriations,” Toledo told the House’s Legislative Energy Action Development Council.

The body is composed of 13 House committees led by the House ways and means panel.

Toledo said the P283 billion is sourced out of the 2026 national budget and continuing appropriations of previous appropriations in the last two years that are yet to be disbursed.

The validity of the national budget is good for two years. 

However, Toledo said the government will be aggressive and prudent at the same time.

“The assistance must be targeted to those who are most vulnerable,” the Budget Acting Secretary said.

As of Wednesday, Toledo said P2.5 billion has been released for transport assistance and another P1 billion for service contracting to keep public transport operations afloat amid higher fuel costs.

Cash support is also being rolled out through the Aid to Individuals in Crisis Situations (AICS) program, with funds already allotted and disbursements ongoing as government agencies submit their requests.

Support for overseas Filipino workers (OFWs) is funded under the Department of Migrant Workers (DMW) and the Overseas Workers Welfare Administration (OWWA).

For the farmers and fisheries sectors, Toledo said around P10 billion was released from the Presidential Assistance to Farmers and Fishermen to help offset higher production and logistics costs. — JMA, GMA News