SENATOR Christopher “Bong” Go has welcomed the decision of the Cabinet-level Development Budget Coordination Committee, composed of the Office of the President, Department of Budget and Management, Department of Finance, and the National Economic and Development Authority, to grant fuel subsidies to public utility drivers who are affected by the increasing world oil prices.

“Nagpapasalamat ako sa kanilang mabilis na pagtugon sa panawagan natin. Alam naman po natin na sa pagtaas ng presyo ng langis, sabay ring tumataas ang presyo ng pangunahing bilihin.

Pabigat po ito lalo na sa mga karaniwang Pilipino, lalo na’t may pandemya. Kaya naman malaki po ang maitutulong ng subsidiyang ito upang kahit papaano ay maibsan ang suliraning ito,” he added.

In a joint statement, the DBCC stated that it is “committed to support our transportation sector, amidst the increasing oil prices.”

To address the burden imposed by the increasing oil prices on the public, the government will release PhP1 billion to the Land Transportation Franchising and Regulatory Board to provide cash grants to around 178,000 bonafide PUV drivers for the remaining months of the year.

These will be distributed using the system established under the Pantawid Pasada Program of the LTFRB.

“Bagama’t mahirap ang buhay ngayon, huwag po tayong mawalan ng pag-asa dahil walang tigil ang ating pagtatrabaho upang maproteksyunan ang buhay, kabuhayan at tiyan ng mga Pilipino,” Go assured.

“Kasabay ng paglaban natin sa COVID-19, patuloy rin nating pinupuksa ang hirap at gutom na nararamdaman ng marami sa ating mga kababayan. Walang Pilipino ang dapat mapag-iwanan sa ating muling pagbangon bilang isang mas matatag na bansa,” he added.

Previously, Go has urged concerned agencies to study the possibility of offering fuel discounts and subsidy for strategic sectors as the rising world oil prices burden the Filipino public.

Go believes that by giving these benefits, the government will be able to help Filipinos cope with economic and financial burdens.

“Sa pagbibigay ng discount o subsidy, mas mapapagaan natin ang bigat na dulot ng pagtaas ng presyo ng langis,” said Go.

“Sa panahon po ng krisis, gawin natin ang lahat para maibsan ang pinapasan ng ating mga kababayan. Bawat buhay po ay pinapahalagahan natin lalo na ‘yung mga walang ibang matakbuhan. Sila po ang prayoridad natin dito, kapakanan nila ang ipinaglalaban ko rito,” he added.

As global economic activity improves and nations reopen, energy prices rise from record lows set in 2020.

Following a surge in the third quarter, the World Bank predicts that world oil prices would remain elevated until 2022, adding to inflationary strains in countries like the Philippines which import all of its oil supplies.

Energy prices are expected to be substantially higher in 2021 than they were in 2020 and to remain in such level until the first half of 2022.

Go also called for the possibility of amending pertinent laws to allow the temporary suspension of fuel excise tax at times when the world oil price rises.

“Pag-aralan din natin ang posibleng pag-amyenda sa kasalukuyang batas upang mapahintulutan ang temporary suspension ng fuel excise tax sa panahong masyadong mataas ang presyo ng langis sa world market. Mandato nating nasa gobyerno na pagaanin ang bigat na dinadala ng ating mga kababayan, lalo na ngayong meron pa tayong krisis na pilit malampasan. Huwag na nating dagdagan ang pahirap sa kanila,” he added.

Finally, Go stated that continuing projects to strengthen the country’s mass transportation infrastructure will be critical in guaranteeing that Filipinos can travel quickly and comfortably despite the ongoing challenges.

“Ito rin ang dahilan kung bakit hinahangad natin na maipagpatuloy ang mga magagandang proyekto at programa na nasimulan ng Administrasyong Duterte lalo na ang mga imprastraktura na magpapabuti sa ating mass transportation system upang maging mas komportable at maginhawa ang buhay para sa lahat tulad ng ipinangako ng Pangulo. Ito ang magiging susi para sa tuluy-tuloy na pag-unlad ng bansa at pagbalik ng sigla ng ekonomiya pagkatapos ng pandemya,” said Go.