Gov't to release P21 B to cushion rising prices

More help is on the way for sectors most affected by skyrocketing fuel prices, President Marcos said yesterday, as he ordered the immediate release of P21.47 billion to keep infrastructure projects running, protect jobs and cushion the impact on Filipinos of the raging conflict in the Middle East.

- ALEXIS ROMERO, Josiah Antonio, Christine Boton, Jose Rodel Clapano

Acting on the President's directive, the Department of Budget and Management (DBM) fast-tracked the release to ensure that critical services continue uninterrupted — especially as higher oil prices threaten transport costs and household budgets.

“Every peso we release is meant to ease a burden, sustain a livelihood or keep a service running for our people — especially at a time when global events beyond our control are affecting daily life here at home,” DBM Secretary Rolando Toledo said.

“At a time when global headwinds are pushing fuel prices up, it is critical that we step in where it matters most: supporting our drivers, protecting commuters, and ensuring that no Filipino is left to carry these challenges alone,” he added.

Of the total, P2.49 billion was allocated to the Department of Transportation (DOTr) for the Fuel Subsidy Program, providing direct relief to drivers and operators grappling with rising fuel costs.

As global oil prices climb, the subsidy helps drivers stay on the road without passing on the full burden to commuters - keeping fares stable and transport accessible for millions of Filipinos.

The Department of Public Works and Highways (DPWH) got P18.65 billion that it would use to sustain infrastructure projects nationwide, ensuring continued employment, safer roads, and unhampered economic activity.

An additional P324.36 million was released to the DPWH to settle prior obligations for foreign-assisted infrastructure projects, ensuring their timely completion.

The DBM assures the public that all fund releases are subject to strict budgeting, accounting, and auditing safeguards - ensuring that assistance reaches the right beneficiaries while protecting every peso of public funds.