‘Pantawid Pasada’ just awaiting funds release

The Land Transportation Franchising and Regulatory Board will soon resume the distribution of the fuel subsidy under the Pantawid Pasada Program, or PPP.

Dating back to the previous administration, the PPP provides a fuel subsidy to roughly 1.3 million public transport drivers and operators to help them cope with rising fuel prices.

The agency on Tuesday said the move followed the signing of a joint memorandum circular by various government agencies, including the LTFRB, implementing the PPP that was first rolled out during the pandemic.

Among those who will receive the subsidy are qualified operators of public utility jeepneys and buses — whether traditional or modern — taxis, UV Express vehicles, delivery services and tricycles.

Beneficiaries will get their subsidy through digital banking such as e-wallets, bank accounts, or fuel cards that can be used at selected gas stations.

The LTFRB, however, said it was still awaiting the release of the budget for the program by the Department of Budget and Management.

Only then will the agency be able to say when the start of the rollout will be and how much each beneficiary will receive.

Maria Celia Abogado of the DBM bureau in charge of the Department of Transportation, during a public hearing on Monday, said the DBM is currently working on releasing the budget.

The LTFRB earlier targeted the distribution of the fuel subsidy before the end of August.

For the ninth consecutive week, oil companies increased fuel prices due to ongoing production cuts implemented by leading oil producers.

The price of diesel at local pumps rose by P1.20 per liter. Kerosene prices increased by P1.10 per liter and gasoline by P0.50 per liter.

Data from the Department of Energy showed that as of 29 August, the commutative increase in diesel stood at P9.50 per liter; gasoline, P14.80 per liter; and kerosene, P6.64 per liter.