Senator Win Gatchalian is seeking to revise the fuel subsidy trigger formula for the public transport sector, shifting from a fixed price threshold to a percentage-based system to provide immediate relief for public utility vehicle (PUV) drivers amid expectations of further fuel price spikes.
Under the current Pantawid Pasada program, fuel subsidies are triggered when world oil prices hit the $80-per-barrel threshold.
Gatchalian is proposing that a certain percentage increase within a week should automatically trigger the release of fuel subsidies for PUV drivers.
Global oil prices are expected to rise substantially in the days ahead amid the ongoing conflict in the Middle East. Dubai crude oil last closed at $68.34 per barrel.
The veteran legislator said a percentage-based trigger would allow the government to release fuel subsidies when volatility strikes, instead of waiting for prices to reach a fixed threshold.
“Mabilis ang pagtaas ng presyo ng langis pero hindi naman mabilis ang pagtaas ng pamasahe.”
“Mabilis ang pagtaas ng presyo ng langis pero hindi naman mabilis ang pagtaas ng pamasahe dahil nire-regulate din ito ng LTFRB kaya ang mga naiipit dito ay ang mga PUV drivers,” the seasoned lawmaker explained.
The Senate Finance Committee chairperson wants to conduct an oversight to determine the cause of the delay in the release of the Pantawid Pasada funds in the past.
