Tuesday 19 February
Jul 11, 2018 @ 16:55

Help is coming: DBM releases P1B fuel subsidy for jeepneys


Relief is coming for these drivers.

The Department of Budget and Management (DBM) said they are ready to release P977 million for the government’s Pantawid Pasada program.

All 179,852 jeepney units registered with the Land Transportation Franchising and Regulatory Board (LTFRB) will receive a P5,000 monthly subsidy from July to December, representing government aid as oil prices are rising.

DBM Secretary Benjamin Diokno, Transportation Secretary Arthur Tugade, Energy Secretary Alfonso Cusi, LTFRB Chairman Martin Delgra III, and Landbank President Alex Buenaventura signed the joint memorandum circular on Wednesday, July 11.

The amount is drawn from the additional tax collections from the Tax Reform for Acceleration and Inclusion law.

By next year, the government will hand out P1,709.57 to jeep drivers monthly to reach P3.86 billion.

Photo courtesy of DBM

Please follow and like us:

Tags: , , , , , , , ,

Related Stories
The launching of the Metro Manila Subway is set to be held by late February,
The Department of Transportation will impose sanctions on Power Plates Development Concepts Inc. and J.
Cabinet secretaries will again woo the Chinese for more funding for big projects.
The mighty consortium which comprisea seven of the country's biggest conglomerates, is set to obtain


Trending News

Recommended on sister sites

Copyright © 2019 Bilyonaryo - Latest news on the richest Filipinos and Family Business.