The national government should bump up to PHP7 billion the direct fuel subsidies meant to cushion public transport drivers, fisherfolk and farmers from elevated petroleum prices, House of Representatives Minority Leader and 4Ps Party-list Rep. Marcelino “Nonoy” Libanan said on Monday.
“Our public utility vehicle (PUV) and ride-hailing drivers, along with delivery service riders, deserve highly improved financial support to help them cope with the persistent burden of high fuel prices,” Libanan said in a news release.
He said the fuel subsidies to public transport drivers should be increased to PHP5 billion, while the combined aid to fisherfolk and farmers should be hiked to PHP2 billion.
“We should give more cash to vulnerable households that tend to be more efficient in spending money compared to government agencies,” Libanan said.
Senators earlier blamed “underspending” by large government agencies for the country’s slower than expected economic growth of 4.6 percent in the second quarter.
In the 2024 National Expenditure Program, the government plans to spend another PHP3.5 billion in fuel subsidies.
The PHP3.5 billion is broken down into PHP2.5 billion for public transport drivers coursed through the Department of Transportation (DOTr) plus PHP1 billion for fisherfolk and corn farmers coursed through the Department of Agriculture (DA).
The DOTr earlier said it plans to release by the end of August the fuel subsidies to PUV drivers being funded by this year’s national budget.
Modern jeepney and UV Express drivers are expected to receive PHP10,000 each while drivers of other modes of public transport would receive PHP6,500.
Delivery riders and tricycle drivers would receive PHP1,200 and PHP1,000, respectively.
Last week, oil companies raised their pump prices by PHP1.90 per liter for gasoline, PHP1.50 per liter for diesel and PHP2.50 per liter for kerosene.
The price increases resulted in a year-to-date net increase of PHP13.40 per liter for gasoline, PHP8.60 per liter for diesel and PHP5.14 per liter for kerosene, according to the Department of Energy. (PNA)