NEDA bats for over P6 billion in fuel subsidy, discount amid Ukraine crisis

ABS-CBN News

<div class='embed-wrap'><figure data-feedback='fb:likes,fb:comments'><img alt='Jeepney drivers wait for passengers along Visayas Avenue in Quezon City on August 17, 2021. Jonathan Cellona, ABS-CBN News file' src='https://sa.kapamilya.com/absnews/abscbnnews/media/2022/business/03/08/03082022-neda-bats-over-6-billion-fuel-subsidy-discount-amid-ukraine-crisis.jpg' ><figcaption>Jeepney drivers wait for passengers along Visayas Avenue in Quezon City on August 17, 2021.<em> Jonathan Cellona, ABS-CBN News file</em></figcaption></figure></div><p>MANILA— The National Economic and Development Authority (NEDA) has proposed increasing the fuel subsidy and discount vouchers for public transport drivers and farmers to more than P6 billion, as prices of fuel soar after Russia's invasion of Ukraine. </p><ul class='op-related-articles'>	<li><a href='https://news.abs-cbn.com/business/03/08/22/ukraine-crisis-may-stagnate-ph-recovery-pcci'>READ: Ukraine crisis may ‘stagnate’ PH economic recovery: business group</a></li></ul><p>NEDA Secretary Karl Chua on Monday night suggested the following to President Rodrigo Duterte in order to offset the war's impact on the prices of fuel and basic commodities. </p><ul>	<li>Placing the entire Philippines to the loosest Alert Level 1 </li>	<li>Increasing fuel subsidy to public transport drivers from P2.5 billion to P5 billion </li>	<li>Increasing fuel discount vouchers to farmers, fisherfolk to P1.1 billion</li>	<li>Suspension of pass-through fees in industrial parks, LGUs, meant for deliveries</li>	<li>Continuing to work with private firms for promotional discounts of between P1 to P4 per liter </li>	<li>Increasing buffer stock of petroleum to 45 days from 30 days </li>	<li>Energy conservation in both private and government offices</li>	<li>Implementation of Plant, Plant, Plant program </li>	<li>Full implementation of service contracting for buses and expanding it to all routes </li>	<li>Promotion of e-vehicles and expanding access to charging stations </li>	<li>Promotion of bicycle use </li></ul><p>Chua said the government has the budget to implement the fuel subsidy and discount vouchers. Duterte last week approved the release of P<a href='https://news.abs-cbn.com/news/03/02/22/duterte-oks-p3-billion-fuel-discount-for-drivers-farmers'>3 billion</a> for this.</p><p>NEDA Undersecretary Rosemarie Edillion, during a press briefing on PTV, said they plan to release the second tranche of subsidy by April. </p><p>"For March, mayroong nakatalaga na P2.5 billion, pagdating ng April yung second tranche ay minumungkahi natin na ibigay," said Edillon. </p><p>Oil companies earlier in the day increased diesel prices by P5.85 per liter, and gasoline prices by P3.60 per liter.</p><p>Lawmakers have called on the suspension of fuel excise taxes, while Malacañang urged them to review provisions of the Oil Deregulation Law. </p><ul class='op-related-articles'>	<li><a href='https://news.abs-cbn.com/business/03/08/22/senators-eye-measures-to-cushion-impact-of-oil-hikes'>Senators bat for excise tax deferment, biofuels, higher subsidy as crude costs spike</a></li></ul><p><strong>WATCH</strong></p><figure class='op-interactive'><iframe allow='autoplay; fullscreen' frameborder='0' height='100%' id='ivsplayer01' scrolling='no' src='https://player.ivideosmart.com/ivsplayer/v4/dist/html/iframe-src.html?iframeid=ivsplayer01&key=e8c22c015ca9eafa76f1e3edfa03c603&spid=3001339&vid=1956031' width='100%'></iframe></figure><div class='iwantbar'>Watch more in <a href='//www.iwantv.com.ph/'>iWantv</a> or <a href='//tfc.tv/'>TFC.tv</a></div>

<ul>	<li>Placing the entire Philippines to the loosest Alert Level 1 </li>	<li>Increasing fuel subsidy to public transport drivers from P2.5 billion to P5 billion </li>	<li>Increasing fuel discount vouchers to farmers, fisherfolk to P1.1 billion</li>	<li>Suspension of pass-through fees in industrial parks, LGUs, meant for deliveries</li>	<li>Continuing to work with private firms for promotional discounts of between P1 to P4 per liter </li>	<li>Increasing buffer stock of petroleum to 45 days from 30 days </li>	<li>Energy conservation in both private and government offices</li>	<li>Implementation of Plant, Plant, Plant program </li>	<li>Full implementation of service contracting for buses and expanding it to all routes </li>	<li>Promotion of e-vehicles and expanding access to charging stations </li>	<li>Promotion of bicycle use </li></ul><p>Chua said the government has the budget to implement the fuel subsidy and discount vouchers. Duterte last week approved the release of P<a href='https://news.abs-cbn.com/news/03/02/22/duterte-oks-p3-billion-fuel-discount-for-drivers-farmers'>3 billion</a> for this.</p><p>NEDA Undersecretary Rosemarie Edillion, during a press briefing on PTV, said they plan to release the second tranche of subsidy by April. </p><p>"For March, mayroong nakatalaga na P2.5 billion, pagdating ng April yung second tranche ay minumungkahi natin na ibigay," said Edillon. </p><p>Oil companies earlier in the day increased diesel prices by P5.85 per liter, and gasoline prices by P3.60 per liter.</p><p>Lawmakers have called on the suspension of fuel excise taxes, while Malacañang urged them to review provisions of the Oil Deregulation Law. </p><ul class='op-related-articles'>	<li><a href='https://news.abs-cbn.com/business/03/08/22/senators-eye-measures-to-cushion-impact-of-oil-hikes'>Senators bat for excise tax deferment, biofuels, higher subsidy as crude costs spike</a></li></ul><p><strong>WATCH</strong></p><figure class='op-interactive'><iframe allow='autoplay; fullscreen' frameborder='0' height='100%' id='ivsplayer01' scrolling='no' src='https://player.ivideosmart.com/ivsplayer/v4/dist/html/iframe-src.html?iframeid=ivsplayer01&key=e8c22c015ca9eafa76f1e3edfa03c603&spid=3001339&vid=1956031' width='100%'></iframe></figure><div class='iwantbar'>Watch more in <a href='//www.iwantv.com.ph/'>iWantv</a> or <a href='//tfc.tv/'>TFC.tv</a></div>

<ul class='op-related-articles'>	<li><a href='https://news.abs-cbn.com/business/03/08/22/ukraine-crisis-may-stagnate-ph-recovery-pcci'>READ: Ukraine crisis may ‘stagnate’ PH economic recovery: business group</a></li></ul><p>NEDA Secretary Karl Chua on Monday night suggested the following to President Rodrigo Duterte in order to offset the war's impact on the prices of fuel and basic commodities. </p>

<div class='embed-wrap'><figure data-feedback='fb:likes,fb:comments'><img alt='Jeepney drivers wait for passengers along Visayas Avenue in Quezon City on August 17, 2021. Jonathan Cellona, ABS-CBN News file' src='https://sa.kapamilya.com/absnews/abscbnnews/media/2022/business/03/08/03082022-neda-bats-over-6-billion-fuel-subsidy-discount-amid-ukraine-crisis.jpg' ><figcaption>Jeepney drivers wait for passengers along Visayas Avenue in Quezon City on August 17, 2021.<em> Jonathan Cellona, ABS-CBN News file</em></figcaption></figure></div><p>MANILA— The National Economic and Development Authority (NEDA) has proposed increasing the fuel subsidy and discount vouchers for public transport drivers and farmers to more than P6 billion, as prices of fuel soar after Russia's invasion of Ukraine. </p>

NEDA Undersecretary Rosemarie Edillion, during a press briefing on PTV, said government plans to release the second tranche of subsidy by April. 

NEDA bats for over P6 billion in fuel subsidy, discount amid Ukraine crisis | ABS-CBN News

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NEDA bats for over P6 billion in fuel subsidy, discount amid Ukraine crisis

NEDA bats for over P6 billion in fuel subsidy, discount amid Ukraine crisis