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Manila Bulletin devider Philippines devider National devider Marcos shortens fuel subsidy trigger period, expedites release to public transport sector

Marcos shortens fuel subsidy trigger period, expedites release to public transport sector

Published Oct 24, 2023 06:12 am

President Marcos has ordered to reduce the trigger period in providing fuel subsidy to the transport sector.

BBM sectoral meeting DOE.jpg
President Ferdinand 'Bongbong' Marcos Jr. presides over a sectoral meeting in Malacañang on Oct. 24, 2023. (Photo courtesy of PPA Pool/KJ Rosales)

From three months, the trigger period will be shortened to only a month, Energy Secretary Raphael Lotilla said.

Marcos made the directive during a sectoral meeting with the Department of Energy (DOE) in Malacañan on Tuesday, Oct. 24.

"So, the highlights of the meeting resulted in the following: One, the President gave instructions on changing the language of the 2024 GAA provision on fuel subsidies for the transport sector in order to shorten the trigger period from three months to one month and simplify release requirements," Lotilla said in a Palace briefing following the meeting with the President.

"It will shorten the period within which the subsidy can be released to our drivers. Because before, it would take three months, and the difference is quite obvious in terms of being able to help the transport sector," Lotilla noted.

At present, if Dubai fuel price per barrel exceeds 80 dollars for three months, it will trigger the government to release the fuel subsidy. But with the President's directive, if the fuel price lasts only for a month, the government will already be compelled to release the subsidy.

"For those of you who are not familiar with the trigger period, whenever the Dubai price per barrel exceeds 80 dollars for three months, then that will be the trigger for the provision of subsidies to the transport sector drivers – public utilities including tricycle and other public utilities," Lotilla explained

"So, with this simplification or shortening of the period, we will be able to release the subsidies in a shorter period of time," he added.

The Energy chief also disclosed that Marcos ordered for the simplification of the release requirements.

"So this time as proposed by the Department of Budget and Management (DBM) to Congress, the guidelines will need only to be agreed upon by the Department of Budget and Management, the Department of Transportation (DOTr) and the Department of Energy," he said.

HE added that these can be released upon the finalization of the list of beneficiaries such as franchises, tricycle drivers, and delivery service drivers from the DOTr, Department of Interior and Local Government (DILG), and Department of Trade and Industry (DTI), respectively..

According to Lotilla, the reason why it took some time for the release of the fund was because the DOTr had to consolidate all lists from not only those who are issued franchises by the Land Transportation Franchising Board (LTFRB) but also those lists coming from the DILG and DTI.

For the budget, the Secretary said the Executive Department is proposing a P2.5-billion fund for 2024. Although it will be lower than the P3-billion subsidy fund this year, Lotilla said, "that would suffice to cover the amounts needed."

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Raphael Lotilla Department of Energy Fuel subsidy President Marcos
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