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Manila Bulletin devider Philippines devider National devider Libanan: Double 2024 fuel subsidy budget to P7B for sake of riders, farmers

Libanan: Double 2024 fuel subsidy budget to P7B for sake of riders, farmers

Published Aug 21, 2023 10:04 am

At A Glance

  • If House Minority Leader Marcelino Libanan would have his way, he would double to P7 billion the direct fuel subsidies for public transport drivers, fisherfolk, and farmers under the proposed P5.768-trillion National Expenditure Program (NEP) for 2024. 

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4Ps Party-list Rep. Marcelino Libanan (Facebook)

If House Minority Leader Marcelino Libanan would have his way, he would double to P7 billion the direct fuel subsidies for public transport drivers, fisherfolk, and farmers under the proposed P5.768-trillion National Expenditure Program (NEP) for 2024.

“Our public utility vehicle (PUV) and ride-hailing drivers, along with delivery service riders, deserve highly improved financial support to help them cope with the persistent burden of high fuel prices,” Libanan said in a statement Monday, Aug. 21

“The fuel subsidies to public transport drivers should be enlarged to P5 billion, while the combined aid to fisherfolk and farmers should be increased to P2 billion,” said the 4Ps Party-list representative.

In the 2024 NEP, which is the precursor to the national budget, the government plans to spend another P3.5 billion in fuel subsidies.

The P3.5 billion is broken down into as follows: P2.5 billion for public transport drivers coursed through the Department of Transportation (DOTr), and P1 billion for fisherfolk and corn farmers coursed through the Department of Agriculture (DA).

The DOTr earlier said it plans to release by the end of August the fuel subsidies to PUV drivers that is being funded by this year’s national budget.

Modern jeepney and UV Express drivers are expected to receive P10,000 each while drivers of other modes of public transport would receive P6,500..

Delivery riders and tricycle drivers would receive P1,200 and P1,000, respectively.

Last week, oil companies raised their pump prices by P1.90 per liter for gasoline, P1.50 per liter for diesel and P2.50 per liter for kerosene.

The price increases resulted in a year-to-date net increase of P13.40 per liter for gasoline, P8.60 per liter for diesel and P5.14 per liter for kerosene, according to the Department of Energy (DOE).

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