Operators of transport network vehicle service (TNVS) should be included in the Pantawid Pasada Program.
This is what House Deputy Speaker Michael Romero proposed amid the expected oil price hikes caused by the recent attack on oil oil facilities in Saudi Arabia.
Romero said the funds will be sourced from the Malampaya fund, which still has a balance of P198 billion. He claimed that it will cover the additional beneficiaries of the subsidy program.
He also cited House Resolution No. 349 which aims for the establishment of a national strategic fuel reserve to address energy crises like fuel shortage.
“[This] will cushion the economic impact of the sharp rise in oil prices triggered by the drone strikes at Saudi Aramco’s oil processing facilities in Saudi Arabia,” Romero was quoted in a Philippine News Agency Report.
He added that HR 349 allows President Rodrigo Duterte to draw the necessary funds from the Malampaya funds to “initially establish the Philippine Strategic Fuel Reserves (PSFR) and implement an expanded Pantawid Pasada cash grants programs.”
The Energy Regulatory Commission (ERC) was also urged to direct oil firms “maintain their own fuel reserves” at a stable level to meet the daily consumer demand for 45 to 60 days.
Meanwhile, the Department of Energy (DOE) said a team from the energy department held a meeting with the proposed members of the Oil Contingency Task Force last Sept. 20 to finalize the creation of the inter-agency group that would be responsible for implementing contingency measures on the impact of supply issues.
“We realize the importance of addressing issues beforehand so that the government may have contingency measures to sustain the country’s economic growth and provide basic services to the people,” Energy Secretary Alfonso Cusi said.