About 87,500 jeepney drivers nationwide have already received fuel subsidy worth P6,500 each, as Land Bank of the Philippines (LANDBANK) ramps up support to public utility vehicle (PUV) drivers challenged by the sudden rise in fuel prices.
LANDBANK, in close coordination with the Department of Transportation (DOTr) and the Land Transportation Franchising and Regulatory Board (LTFRB), has credited fuel subsidies totaling P569 million for existing Pantawid Pasada cash cardholders under the Fuel Subsidy Program as of 17 March 2022. More than 377,000 PUV driver-beneficiaries are eligible to receive the subsidy under the Program.
“LANDBANK is one with the National Government in providing immediate support interventions to PUV drivers to weather the impact of the fuel price surge. We are working closely with the DOTr and LTFRB to complete the distribution of the fuel subsidy to all beneficiaries nationwide at the soonest time possible,” said LANDBANK President and CEO Cecilia C. Borromeo.
Apart from jeepney drivers, the Fuel Subsidy Program beneficiaries also include drivers of UV express units, minibuses, buses, shuttle services, taxis, tricycles, and other full-time ride-hailing and delivery services nationwide.
Beneficiaries without Pantawid Pasada cash cards will be provided cash cards at designated LANDBANK branches as identified by the LTFRB.
The Pantawid Pasada cash cards can be used to purchase fuel at participating fuel stations nationwide.
LANDBANK continues to partner with national government agencies to ensure the timely, safe and efficient delivery of financial interventions to eligible beneficiaries, as part of the Bank’s commitment to serving the nation.