Malacañang has announced the release of P3 billion worth of fuel subsidy to the Department of Transportation (DOTr) and the Department of Agriculture (DA) intended for public utility vehicle (PUV) drivers, farmers, and fisherfolks to cushion the impact of the consecutive oil price hikes.
Communication Undersecretary Kris Ablan announced this amid the soaring prices of fuel that have been taking place for the past three months.
In a press briefing on March 11, Ablan said that the Department of Budget and Management (DBM) had released P2.5 billion for the first tranche of DOTR's Fuel Subsidy Program and P500 million for DA's Fuel Discount Program.
The acting presidential spokesman added that a second tranche would be released in April 2022.
In the same briefing, Budget Undersecretary and spokesman Rolando Toledo said 377,443 beneficiaries of the DOTr's Fuel Subsidy Program would receive P6,500 each.
Beneficiaries include affected jeepney drivers and drivers of UV Express, minibusses, bus shuttle services, taxis, tricycles, transport network vehicle service (TNVS), motorcycle taxis, and delivery services.
Beneficiaries may claim their financial assistance through cash cards from the Land Bank of the Philippines.
On DA's fuel discount program, Toledo stressed that this is to assist farmers and fisherfolk who will avail of the 30-percent discount from oil companies by the agriculture department.
"Ang maximum amount po ng discount na pwedeng makuha ng benepisyaryo ay P3,000 ((The maximum amount of discount that each beneficiary can receive is P3,000)," he said.
"So ang cash po para dito ay magmumula sa Development Bank of the Philippines (The cash will come from the Development Bank of the Philippines)," he added.