LANDBANK disburses P1.1 B in fuel subsidies
THE LAND BANK of the Philippines (LANDBANK) reported on Wednesday that as of Nov. 9, it has disbursed P1.1 billion worth of fuel subsidies to 160,000 public utility vehicle (PUV) drivers under the joint program of the Department of Transportation (DoTr) and the Land Transportation Franchising and Regulatory Board (LTFRB).
“LANDBANK is one with the National Government in extending timely and responsive assistance to the local transport sector. Rest assured that we are ramping up the delivery of fuel subsidy to support PUV drivers and operators nationwide,” LANDBANK President and Chief Executive Officer Lynette V. Ortiz said.
“Under the program, drivers and operators of modernized public utility jeepneys and utility van (UV) express units receive P10,000 each, while drivers and operators of traditional PUV and transportation network vehicle services (TNVS) receive P6,500 each,” the LANDBANK said.
The bank, the DoTr, and the LTFRB aim to distribute financial aid to a total of 1.36 million beneficiaries under the program. — Aaron Michael C. Sy
