Release date of fuel subsidy for PUVs still unclear —LTFRB exec

The fuel subsidy budget for public utility vehicle (PUV) operators and drivers has yet to be released, and the exact date for the payout is still uncertain, an official of the Land Transportation Franchising and Regulatory Board said Thursday.

Interviewed on GMA News’ Unang Balita, LTFRB-National Capital Region director Atty. Zona Tamayo said they are expediting the release of the funds with the Department of Budget and Management (DBM).

“Wala pa po ‘yung eksaktong petsa pero tayo ay nagmamadali na rin po sa Department of Transportation (DOTr) at LTFRB kaya nakipag-ugnayan na tayo sa DBM upang ma-release na po ang budget sa amin,” she said when asked when the subsidy will be distributed to beneficiaries.

(We don’t have an exact date for the distribution but we -- DOTr and LTFRB -- are also rushing, that is why we are coordinating with the DBM to release the budget.)

Under the 2022 General Appropriations Act (GAA), the fuel subsidy funds could only be released if the Dubai crude oil price for three months averaged or exceeded $80 per barrel.

Tamayo said that the LTFRB already asked the Department of Energy for a certification of such a requirement.

Amid the recent hikes in fuel prices, the DOTr has requested the DBM for funds to cover 377,443 beneficiaries who would be receiving fuel subsidies amounting to P6,500 each, or a total of P2,453,379,500.

Meanwhile, Tamayo said the LTFRB is looking into the possible effect of the proposed fare increase on the prices of goods.

“Iintindihin ho natin na kailangan po nating balansehin ito dahil alam naman po natin na may domino effect po sakaling magtaas ng pamasahe, apektado rin po yung  presyo ng ibang bilihin,” she said.

(We need to understand that we need balance things out because a fare increase has a domino effect on the prices of goods.)

She added that the LTFRB will work with the National Economic and Development Authority (NEDA)  in assessing the possible impact of the proposed fare increase. —LBG, GMA News