The Land Transportation Franchising and Regulatory Board (LTFRB) has rejected a proposal to raise public transportation fares by P1 to offset the rising fuel prices. Instead, they will be giving P2.9 billion worth of fuel subsidies to PUV drivers.
The Land Transportation Franchising and Regulatory Board (LTFRB) is still waiting for the Department of Budget and Management to release the budget for the subsidy.
The amount of subsidy that each driver will receive will depend on the type of PUV they operate. Motorcycle taxis are not included in the subsidy program.
The subsidy will range from P1,000 to P10,000.
Transport group PISTON is calling for the junking of the oil deregulation law as a long-term solution to the rising fuel prices.
They argue that removing the P6 excise tax on fuel would help to offset the rising costs for drivers.
However, the LTFRB says that removing the excise tax would also affect the fuel subsidy program. It is possible that the subsidy would be reduced or even eliminated altogether.
The government is still trying to find a solution to the rising fuel prices.
The P2.9 billion fuel subsidy is just one of the measures that they are taking. It remains to be seen whether this will be enough to help PUV drivers and commuters.
Source: PhilNews24 | August 15, 2023
