THE Department of Agriculture (DA) said it will request the immediate release of an additional P50 million to supplement its fuel subsidy fund after crude oil prices spiked to nearly $120 per barrel before falling back on Monday.
Agriculture Assistant Secretary Arnel de Mesa said the release of the funds would allow the DA to deploy P150 million allocated for fuel assistance to farmers and fisherfolk amid rising global energy prices due to the fighting in Iran.
“The P50 million is ready for implementation in the coming days. The P100 million has already been released to the DA,” Mr. De Mesa told reporters late Monday.
He said that based on advice from the Department of Budget and Management, the remaining funds may be requested once the initial tranche is depleted.
Meanwhile, Mr. De Mesa said the implementing agencies — the Bureau of Fisheries and Aquatic Resources and the Bureau of Agricultural and Fisheries Engineering have been directed to accelerate the disbursement of the initial P100-million tranche.
The fuel subsidy program is intended to cushion farmers and fisherfolk from rising production costs caused by elevated fuel prices, which affect farm machinery operations and fishing activities.
The program allocates P75 million for farmers and an equal amount for fisherfolk, benefiting nearly 15,000 farmers and 24,000 fisherfolk.
To qualify for the subsidy, farmers must be enrolled in the Registry System for Basic Sectors in Agriculture and must either own or rent farm machinery that uses fuel, such as tractors, harvesters, or irrigation pumps.
Fisherfolk beneficiaries must own or operate fishing boats with a capacity of three gross tons or below, while using fishing gear that complies with fisheries regulations.
The subsidy will be distributed through the Interventions Monitoring Card (IMC) issued to qualified beneficiaries. The card allows farmers and fisherfolk to withdraw their fuel assistance at accredited fuel stations.
For beneficiaries located in remote or far-flung areas where IMC transactions may not be accessible, the DA said fuel vouchers will be issued instead, which can be redeemed at participating fuel outlets. — Vonn Andrei E. Villamiel
