FUEL SUBSIDY. Both modern and traditional public utility vehicle drivers are eligible to receive fuel subsidy from the government, which is being distributed by the Land Bank of the Philippines. LandBank said Wednesday (Nov. 15, 2023) that it has disbursed PHP1.1 billion out of the PHP3 billion budget for the Fuel Subsidy Program. (PNA file photo)
MANILA – The Land Bank of the Philippines said on Wednesday that it has disbursed a total of PHP1.1 billion in fuel subsidy to 190,130 public utility vehicle (PUV) drivers as of Nov. 9.
The beneficiaries include those driving public utility jeepneys (PUJs) and buses, taxis, and transportation network vehicle services (TNVS).
“LandBank is one with the national government in extending timely and responsive assistance to the local transport sector. Rest assured that we are ramping up the delivery of fuel subsidy to support PUV drivers and operators nationwide,” LandBank president and chief executive officer Lynette Ortiz said.
The Fuel Subsidy Program of the Department of Transportation (DOTr) and Land Transportation Franchising and Regulatory Board (LTFRB) listed 1.36 million target beneficiaries to receive government assistance, with a total allocation of PHP3 billion, to help them cope with rising oil prices.
Under the program, modernized PUJ and UV Express drivers are entitled to receive PHP10,000 each, and PHP6,500 each for drivers of traditional PUV and TNVS.
“LTFRB is continuing to submit lists of qualified beneficiaries to LandBank, while the Bank is facilitating the crediting of fuel subsidies through the beneficiaries’ existing accounts in Landbank and other banks,” Landbank added.
The program was exempted by the Commission on Elections from the election spending ban upon the request of LTFRB. (PNA)
