DOTR, LTFRB prodded on release of P2.5B fuel subsidy
A House leader appealed to the Department of Transportation (DOTR) and the Land Transportation Franchising and Regulatory Board (LTFRB) to expedite the release of a P2.5 billion fuel subsidy to the public transport sector.
Deputy Speaker and Cagayan de Oro Rep. Rufus Rodriguez said for this year’s national budget includes financial assistance/fuel vouchers to qualified public utility vehicle (PUV), taxi, tricycle, and full-time ride-hailing and delivery services drivers nationwide as identified and validated by the LTFRB.
Rodriguez made the appeal following the series of oil price hikes and the expected increase due to the tension between Russia and Ukraine.
During the LTFRB public transport stakeholder’s meeting in Cagayan de Oro City, Rodriguez told drivers that Congress has allocated the said amount under the 2022 General Appropriations Act (GAA) or national budget.
“I call on the DOTR and LTFRB that this P2.5 billion subsidy be already given to our drivers as soon as possible. Just this year, there is a P10 increase in the prices of petroleum products,” he said.
In response, LTFRB Chairman Martin Delga lll committed to Rodriguez and the Transport Cooperatives and Associations of Region 10 that once Department of Budget and Management (DBM) downloads the P2.5 billion to LTFRB, the agency will immediately release the amount to the public utility drivers in the country.
Delgra said he expects the DBM to release the funds soon, since the budget department normally disburses agency appropriations during the first quarter of the year.
Rodriguez said fuel prices have increased by more than P20 per liter since last year due to the Covid-19 pandemic and the Russia-Ukraine tensions.
Pump prices are expected to further increase with Russia’s invasion of its neighbor, he said.
”When the cost of petroleum oil increases, it always follows that fares and prices of goods also go up, affecting our consumers. This is alarming for an economy like the Philippines, which is still recovering from the COVID-19 pandemic,” he stressed.
