The fund aims to keep infrastructure projects running, protect jobs, and cushion Filipinos from the impact of global shocks.
Amid rising fuel prices driven by ongoing regional conflict in the Middle East, on Friday, March, President Ferdinand Marcos Jr. ordered the Department of Budget and Management (DBM) to immediately release of PHP21.47 billion.
The department fast-tracked the release of the said fund, which ensures that critical services continue uninterrupted in spite of the higher oil prices, which had caused ripple effects in terms of transport costs and household budgets.
Of the sum, PHP2.49 billion has been allocated to the Department of Transportation (DOTr) for the Fuel Subsidy Program, which will directly provide aid to public utility vehicle (PUV) drivers and operators.
Meanwhile, PHP18.65 billion was released to the Department of Public Works and Highways (DPWH) to sustain infrastructure projects nationwide to ensure continued employment and unhampered works and economic activity.
Furthermore, an additional PHP324.36 million was released to the DPWH to settle prior obligations for foreign-assisted infrastructure projects, ensuring their timely completion.
DBM Secretary Rolando Toledo said, “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.”
“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.
The DBM also said that that all fund releases are subject to “strict budgeting, accounting, and auditing safeguards.”