THE Land Transportation Franchising and Regulatory Board (LTFRB) has announced the successful release of over P651 million in fuel subsidies to public transport operators and drivers across the nation.
This significant disbursement is part of a broader government initiative aimed at cushioning the impact of escalating global oil prices on the transportation sector. The program, implemented following the directive from President Ferdinand Marcos Jr., seeks to provide much-needed financial relief to those most affected by the rising cost of fuel.
LTFRB Chairman Vigor Mendoza II stated on Monday, March 30, that the agency, in collaboration with its regional offices and other government bodies, has worked diligently to expedite the validation and payout processes.
While initial distributions in Metro Manila encountered some minor challenges, Mendoza noted that these were promptly addressed and served as valuable lessons, leading to improvements in subsequent payouts in other regions. The overarching goal, he emphasized, remains the swift and efficient release of the fuel subsidy to eligible beneficiaries.
The Department of Transportation has allocated a total of P2.4 billion for this subsidy program, with the LTFRB tasked with its overall implementation.
As of March 17, the LTFRB has already distributed a substantial P651,185,000, according to their data. Metro Manila received the largest portion of these funds, amounting to P181.278 million. Other regions that have received significant allocations include Calabarzon, with P98.215 million, and Central Luzon, with P73.416 million, indicating a widespread reach of the subsidy program.
