THE Land Transportation Franchising and Regulatory Board (LTFRB) yesterday said it has disbursed around 20 percent of the P3 billion fuel subsidy budget to more than 90,000 public utility vehicle (PUV) drivers and operators nationwide.
In a statement, LTFRB said it has disbursed to the Landbank of the Philippines (LBP) the sum of P860.98 million to be distributed to beneficiaries of the Fuel Subsidy Program (FSP), which seeks to provide help and support to operators and drivers who are adversely affected by high fuel prices.
Of the amount, the LTFRB said P605.2 million has been disbursed to 92,755 PUV units nationwide as of October 3, 2023.
LTFRB started the distribution of the fuel subsidy on September 13 after it was exempted by the Commission on Elections from the public spending ban in relation to the October 30 Barangay and Sangguniang Kabataan Elections (BSKE).
The LTFRB expects to distribute the P3 billion fuel subsidy fund to an estimated 1.3 million beneficiaries, which includes 132,009 public transport operators nationwide.
Of the 1.36 million beneficiaries, the LTFRB will distribute the cash aid to 280,000 PUVs, while local government units, through the Department of Interior Local Government (DILG), will distribute the assistance to some 930,000 tricycle units. On the other hand, the Department of Trade and Industry (DTI) will pay out the assistance to some 150,000 delivery service operators.
Each operator of modern Public Utility Jeepney (PUJs) and UVE who have qualified under the program will receive a P10,000 subsidy, while P6,500 will be distributed to each operator of the other mentioned public transport, whether modern or not.
In a related development, the LTFRB said PUJs nationwide are not required to post a fare matrix in their respective units since only the minimum fare will change and not the fare for the next kilometers.
The LTFRB has approved a provisional P1 minimum fare increase nationwide starting on October 8. The minimum fare for traditional PUJs will now be P13, while passengers of modern PUJs will pay a minimum fare of P15.
