The Department of Budget and Management (DBM) said Wednesday that it is processing release of funds for the fuel subsidies for public transport utility and for the agriculture sectors.
“Minamadali na namin ang pag-release nung pondo. In fact, we expect na within this week [or] at the latest early next week ang pagre-release nito,” DBM officer-in-charge Undersecretary Tina Rose Canda said on state-run PTV’s Laging Handa briefing.
However, the release of the funds can only be triggered if the price of Dubai crude oil for three consecutive months averaged or exceeded $80 per barrel. “Ang DOE na ang nag-decide na isama sa computation ‘yung December so December, January, February. Kasi kung halimbawa hintayin yung three months dapat [sa] Abril pa ‘yun mare-release,” she said.
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