The transportation and agriculture sectors will get the bulk of subsidies approved on Tuesday by the government, pegged at P6.1 billion, to help them cope with continuing increases in oil prices, according to the Department of Energy (DoE).
The transportation sector, composed of public utility drivers and operators, will get a one-time cash fuel subsidy under the Pantawid Pasada Program at P5 billion, Energy Secretary Alfonso Cusi said during a virtual media briefing.
The farmers and fisherfolk will get P1.1 billion in the form of fuel discounts.
“These government initiatives would help defray fuel costs for the most vulnerable sectors of society,” Cusi said.
Both the Energy department and the Land Transportation Franchising and Regulatory Board will roll out the subsidies at a date to be announced later.
As an additional form of assistance, officials agreed in principle to suspend the collection of seven percent tariff from coal importation from non-AIFTA (Asean-India Free Trade Area) members.
This move will allow coal importers to source out their requirements from other countries at a much cheaper price, Cusi said.
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