CAGAYAN DE ORO CITY — The Land Transportation Franchising and Regulatory Board (LTFRB) will begin releasing fuel subsidies to public utility vehicle (PUV) drivers and operators in Northern Mindanao starting Monday, as the government moves to cushion the impact of rising fuel prices.
LTFRB Northern Mindanao regional director Anjo Bendijo said the financial assistance will be credited directly to the accounts of qualified drivers and operators.
“We already have the list and will begin releasing the subsidies on Monday,” Bendijo said.
The LTFRB is distributing the fuel subsidy to help PUV operators cope with soaring fuel costs. Under the program, drivers and operators of traditional jeepneys will receive P5,000, while modern jeepneys will get up to P10,000.
The subsidy forms part of a P2.5-billion assistance program of the government and will be distributed through Landbank accounts and digital wallets such as GCash and Maya.
Bendijo also assured the public that there will be no transport strike or transport holiday in Northern Mindanao, particularly in Cagayan de Oro City, as the LTFRB continues to engage transport groups in the region.
He said he is scheduled to meet with transport leaders to discuss the release of the fuel subsidy and other concerns of drivers and operators.
Earlier, some transport groups announced they would no longer join the planned nationwide transport strike, saying they would instead temporarily stop operating some routes due to the rising cost of fuel triggered by the ongoing crisis in the Middle East.
Luzminda Escobido, president of the Northern Mindanao Transport Cooperatives, said diesel prices in the region have already reached around P100 per liter and could increase further.
She noted that revenues of buses operating long-distance routes have dropped sharply as fuel expenses continue to climb.