THE Land Transportation Franchising and Regulatory Board (LTFRB) announced Tuesday the release of some P703 million worth of fuel subsidies amid the successive hikes in domestic pump prices.
LTFRB Executive Director Tina Cassion said the fuel subsidies cover a total of 108,164 beneficiaries who received P6,500 per unit in line with the Pantawid Pasada Program.
The amount is part of the P2.5 billion allocation by the government to provide fuel vouchers for some 377,000 qualified public ulitily vehicle drivers across the country.
“Pinapa-alalahanan ang mga operators / drivers, na ang halaga na kanilang matatanggap na fuel subsidy sa ilalim ng programang ito ay maaari lamang gamitin para sa pagbili ng kailangan nilang krudo,” Cassion said in a statement released to reporters.
Under the Pantawid Pasada Program, drivers of public utility vehicles (PUVs) are given financial aid to counter the higher prices of petroleum products which have been on an uptrend in 11 out of the past 12 weeks.
“Patuloy ang LTFRB sa pag-proseso ng fuel subsidy sa iba pang mga benepisyo. Nakikipag-ugnayan ang ahensya sa Land Bank of the Philippines para mapabilis ang implementasyon ng buong programa,” Cassion said.
