THE Department of Budget and Management (DBM) said the funds for fuel subsidy for the transportation and agriculture sector will be released within the week or early next week, DBM...
THE Department of Budget and Management said the funds for fuel subsidy for the transportation and agriculture sector will be released within the week or early next week, DBM officer-in-charge Undersecretary Tina Rose Canda said on Wednesday, March 9, 2022.
The condition to trigger the release of the funds is if the price of Dubai crude oil for three consecutive months averages or exceeds $80 per barrel. During Duterte’s Talk to the People Address on Monday, March 7, 2022, National Economic and Development Authority’s Director General and Socioeconomic Planning Secretary Karl Chua proposed to double the fuel subsidy for the public utility vehicles and to increase to P1.1 billion the subsidy for the agriculture sector in order to alleviate the impact of oil price hike on the people.
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