MALACAÑANG on Friday said they are waiting for the Department of Budget and Management (DBM) to release the funding for fuel subsidy for public transport operators amid rising oil prices.
During the Laging Handa press conference on Friday, Cabinet Secretary Karlo Alexei B. Nograles said the Department of Transportation (DoTr) and the Land Transportation Franchising and Regulatory Board (LTFRB) have submitted the necessary documents to the DBM for the fuel subsidy.
“Now it is up to the DBM to interpret on how to trigger the response based on the wordings of the budget law for 2022,” Mr. Nograles said.
Under the General Appropriations Act of 2022, the budget for the fuel subsidy program can only be released when the average Dubai crude oil price based on the Mean of Platts Singapore reaches or exceeds $80 per barrel for three consecutive months.
Budget Undersecretary Tina Rose Marie L. Canda told BusinessWorld in a Viber message on Friday that the Dubai crude benchmark has been breached and that the agency has received the submissions of the LTFRB and the DoTr. However, it still cannot release the funds as it is still waiting for the DoTr to submit an additional requirement.
“We are currently waiting for the budget to be released by the DBM. Once it’s been released, we will put the money for the program in the [Land Bank of the Philippines] so we can easily distribute them to the beneficiaries,” the LTFRB said in a statement on Friday.
In the request submitted to the DBM, 377.443 beneficiaries will receive P6,500 each for fuel subsidy, the LTFRB said.
Aside from the operators of public jeepneys, public utility bus, mini bus, taxis, UV Express, transport network vehicle service, tourist transport service and tricycles, delivery services are also included in the list of beneficiaries. — MCL
