The Land Transportation Franchising and Regulatory Board (LTFRB) on Thursday said more than P860 million has been disbursed for the distribution of fuel subsidies to public transportation drivers and operators.
In a news release, the LTFRB said a total of P860,977,500 has been disbursed by the agency to the Land Bank of the Philippines, covering funding requirements to distribute the subsidies of public utility vehicles (PUV) stakeholders.
The public land transportation regulator said the number of PUV operators included to the list of beneficiaries of the government’s Fuel Subsidy Program reached 132,009 nationwide as of October 3.
The said list was endorsed to the Landbank for the crediting of fuel subsidies.
Meanwhile, 92,755 units of PUVs have already received their fuel subsidies.
The total amount credited so far stood at P605,186,000.
Under the fuel subsidy program, modernized PUV operators and drivers shall receive P10,000, while those operating traditional PUVs shall receive P6,500.
Moreover, delivery riders and tricycle drivers will also receive P1,200 and P1,000, respectively, under the fuel subsidy program.
The government began the distribution of cash aid to PUV stakeholders last month.
The Department of Transportation (DOTr) and the LTFRB estimate some 1.36 million operators will receive the subsidies — 280,000 PUVs, 930,000 tricycles, and 150,000 delivery service riders.
The activation of the Fuel Subsidy Program was triggered by the consecutive hikes in the pump prices of petroleum products.
Amid the rising fuel costs, the LTFRB on Tuesday approved a P1 provisional increase in the minimum fare for public utility jeepneys (PUJs) effective Sunday, October 8.
Meanwhile, the LTFRB is yet to decide on the petition seeking the P5 increase in the minimum fare for PUJs.–AOL, GMA Integrated News