MANILA, Philippines — After the Commission on Elections (Comelec) stated on Wednesday that the board…
LTFRB is awaiting a direction from the Marcos administration regarding the upcoming fuel subsidy tranche.
Before issuing the next installment of the fuel subsidy program, the Land Transportation Franchising and Regulatory Board (LTFRB) would wait for President-elect Ferdinand “Bongbong” Marcos Jr.’s administration to get underway, an official said on Wednesday.
While they are prepared for the upcoming subsidy payout, LTFRB Executive Director Maria Kristina Cassion stated at a Laging Handa briefing that it would depend on the policies of the future administration.
“We do not want to preempt the incoming administration of President Marcos on what their programs and policies are on the subsidy for the transportation industry,” Cassion said. “Kung ano po iyong kanilang mga programa at polisiya, when it comes to the assistance for the transportation sector.”
She declared that the LTFRB is prepared to adhere to the rules and carry out Marcos’ instructions.
“Rest certain that we have heard from incoming President Marcos that his administration will focus on transportation,” she said. “Rest assured that we have heard from incoming President Marcos that his administration will focus on transportation.”
Lists of program recipients have already been completed by the LTFRB, the Department of Trade and Industry (DTI), and the Department of the Interior and Local Government (DILG).
“If the second tranche is released, there won’t be any beneficiary changes because these are already our registered franchise owners,” she added. “If in case the second tranche is granted, wala namang pagbabago doon sa mga beneficiaries.”
She mentioned that there were over 300,000 participants in the previous fuel subsidy program, which had a PHP2.5 billion budget from the General Appropriations Act of 2022.
She claimed that as of this writing, 264,000 beneficiaries had received their subsidies from the Landbank of the Philippines (LBP), with the remaining 50,000 beneficiaries set to do so this coming week.