11 July 2018 | 9:00 am | DBM Multi-purpose Hall
Secretary Benjamin E. Diokno
Department of Budget and Management (DBM)
Good morning, everyone!
When the TRAIN Law was still being crafted, the Pantawid Pasada Program has already been identified as one of its complementary social mitigating measures. Today, as we sign this Joint Memorandum Circular, I am pleased that this program is nearing implementation, and soon, our intended beneficiaries, our jeepney drivers, will enjoy the benefits from this fuel subsidy program.
The Pantawid Pasada Program will cover 179,852 units or 100% of PUJ units with existing LTFRB franchise, within 2 years upon execution of the TRAIN Law. On our part, in the DBM, we will ensure that all the necessary funding, subject to proper documentation, shall be immediately released to ensure the smooth and speedy implementation of this program.
This 2018, for the first tranche of the Pantawid Pasada, we are allocating PhP 977 Million. This is to provide a 5,000 peso subsidy for the six remaining months to the intended beneficiaries, or approximately 833 pesos monthly.
Meanwhile, for 2019, in the second tranche of the program, we will allocate PhP 3.86 Billion. This will provide a total of 20,514.82 pesos fuel subsidy to the beneficiaries, or 1,709.57 pesos monthly.
The fuel subsidy will cover the increase in fuel expense incurred by our jeepney drivers, due to the excise tax on fuel.
We are hopeful that this program will provide relief to our transport sector, as we all continue to work towards our vision of real change - a better and more inclusive Philippines.