DBM Releases PHP3 Billion for Fuel Subsidies and Discounts

The Department of Budget and Management (DBM) released PHP3 billion for fuel subsidies and discounts on Thursday, March 10.

PHP2.5 billion was allocated for the Department of Transportation’s (DOTr) fuel subsidy program, providing PHP6,500 to over 377,443 qualified public utility vehicle (PUV) drivers and operators through cash cards from Landbank.

The remaining PHP500 million is for the Department of Agriculture’s (DA) fuel discount program, offering a maximum PHP3,000 discount on fuel for farmers and fisherfolk who own agricultural or fishing equipment.

LTFRB will start distributing the subsidies to PUV drivers next week after confirming DBM's release of funds.

The government plans to use excess revenues as a source for additional fuel subsidies proposed by the economic team.