Amid rise in fuel prices: Gov’t OKs P1B for cash aid grant to PUV operators
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Amid rise in fuel prices: Gov’t OKs P1B for cash aid grant to PUV operators

The government has set aside P1 billion for granting cash assistance to public utility vehicle operators burdened by the continued increase of fuel prices.

In a joint statement issued Monday, members of President Rodrigo Duterte’s economic team said the cash aid for PUV drivers will be released using the system established under the Pantawid Pasada Program of the Land Transportation Franchising and Regulatory Board.

“The government shall release P1.0 billion to the Land Transportation Franchising and Regulatory Board (LTFRB) to provide cash grants to around 178,000 bonafide Public Utility Vehicles drivers for the remaining months of the year,” the Development Budget Coordination Committee said.

Fuel subsidies were earlier granted through the Tax Reform for Acceleration and Inclusion (TRAIN) law, which raised the taxes on cars as well as on fuel.

Pump prices have risen by about P20 per liter of gasoline and diesel since the start of 2021 on the back of rising demand for fuel worldwide.

 

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