Aquino signs EO on P450-M fuel subsidy for PUV drivers

(Updated 1:45 p.m.) President Benigno Aquino III has signed Executive Order (EO) 32 providing P450 million worth of fuel subsidy for drivers and operators of public utility jeepneys and tricycles. At a press briefing on Tuesday, Communications Secretary Ricky Carandang said the “Pantawid Pasada" or Public Transport Assistance Program (PTAP) will be a form of temporary assistance for drivers and operators following a series of oil price increases. “The goal is to ease some of the pressure on the drivers and operators so they can pass on the savings to passengers," he said. Carandang added the program could be extended depending on the assessment of the Department of Energy on the fuel situation worldwide. Under EO 32, the Departments of Transportation and Communications (DOTC), Finance (DOF), and DOE are authorized to determine the monthly funding requirement of the assistance program. The disbursement shall be made per franchisee and on the number of franchised units based on information to be provided buy the DOTC through the Land Transportation Franchising and Regulatory Board (LTFRB). The DOE shall use smart cards to ensure the integrity of the disbursement. The EO states that the DOE may review the list of those entitled to the program to include other sectors whose operations may be classified as sensitive to high oil prices. The DOE may also suspend the program when it determines that the impact of fuel costs on the sectors no longer exists. The subsidy for tricycles shall be subject to availability of counterpart funds from the respective local government units. The Department of Interior and Local Government shall coordinate with the local governments for the implementation of the program. After the first month of the implementation, the DOE shall submit to the Interagency Energy Contingency Committee a report on the status of the accomplishments of the program. The IECC will then submit its recommendations to the President regarding the continued implementation of the program. The funding for the partial subsidy will be sourced from the Special Account in General Fund of the DOE or collection from Malampaya Gas. – VVP/KBK, GMA News