The Department of Budget and Management (DBM) mentioned on Thursday it has retained the finances allocations for gasoline subsidies for the general public transport and agriculture sectors in subsequent 12 months’s expenditure plan.
At a Palace briefing, Budget Secretary Amenah Pangandaman mentioned that it allotted P2.5 billion for gasoline subsidies for public utility automobile (PUV) operators and drivers below the Department of Transportation’s (DOTr) proposed finances.
“The fuel subsidy program under the DOTr, it’s the same level that we proposed in 2023… for the proposed 2024 budget it’s [still] P2.5 billion,” Pangandaman mentioned.
The DOTr’s gasoline subsidy program offered over P6,000 in gasoline vouchers to certified PUV, taxi, tricycle, and full-time ride-hailing and supply service drivers nationwide, geared toward cushioning the influence of excessive oil costs on 1000’s of PUV drivers.
“Similar to our fuel assistance program under the Department of Agriculture, it’s the same at P1 billion in 2024 NEP (National Expenditure Program),” Pangandaman mentioned.
The DA’s gasoline subsidy program offered P3,000 price of gasoline reductions to greater than 300,000 farmers and fisherfolk in a bid to make sure unimpeded agricultural manufacturing regardless of rising gasoline prices.
On Wednesday, the DBM submitted the P5.768-trillion NEP or the proposed nationwide finances for 2024 to the House of Representatives.
The quantity is 9.5% larger than this 12 months’s P5.268-trillion finances.
Once authorised by Congress, the NEP will probably be generally known as the proposed General Appropriations Act, which will probably be submitted to President Ferdinand Marcos Jr. for his signature. — VBL, GMA Integrated News
Source: www.gmanetwork.com
