Article by:
Ma. Teresa Montemayor
MANILA – President Ferdinand R. Marcos Jr. has directed the Department of Budget and Management (DBM) to immediately release PHP21.47 billion to sustain infrastructure projects and protect Filipinos from the impact of rising fuel prices triggered by tensions in the Middle East.
In a news release on Friday, the DBM said it has fast-tracked the fund release to ensure that essential services remain uninterrupted as global oil price hikes continue to affect transport fares and household expenses.
"Bawat pisong inilalabas natin ay para magpagaan ng buhay, makatulong sa hanapbuhay, o masigurong tuloy ang serbisyo para sa ating mga kababayan, lalo na ngayon na may mga pangyayari sa ibang bansa na may epekto sa araw-araw na buhay dito sa atin (Every peso we spend is meant to ease lives, support livelihoods, or ensure continuous service for our fellow citizens, especially now, as global events continue to impact our daily lives here at home)," DBM Secretary Rolando Toledo said.
“Sa panahon na tumataas ang fuel prices dahil sa krisis na nangyayari sa labas ng bansa, mahalagang kumilos ang gobyerno kung saan pinaka-kailangan, suportahan ang ating mga driver, protektahan ang mga commuter, at siguraduhing walang Pilipinong maiiwan sa bigat ng mga hamong ito (In times when fuel prices are rising due to the crisis occurring outside our country, it is vital for the government to act where it is needed most, supporting our drivers, protecting commuters, and ensuring that no Filipino is left behind by the weight of these challenges),” he added.
Of the total amount, PHP2.49 billion was allocated to the Department of Transportation for the fuel subsidy program. The subsidy provides direct assistance to drivers and operators, allowing them to continue operations without immediately passing on the additional costs to passengers.
The DBM said this measure is crucial in keeping transport fares affordable for millions of daily commuters.
Meanwhile, PHP18.65 billion was released to the Department of Public Works and Highways to ensure the steady progress of infrastructure projects nationwide. This allocation is expected to secure the jobs of construction workers and prevent delays in economic activity.
An additional PHP324.36 million was also released to the DPWH for the settlement of obligations related to foreign-assisted infrastructure projects to ensure their timely completion.
The DBM assured the public that all fund releases undergo strict budgeting, accounting, and auditing rules to ensure that the people’s money is protected and utilized properly. (PNA)
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