Landbank disburses over P717M cash aid to PUV operators
FILE PHOTO– Drivers of traditional jeepney of a local operator in San Juan City check their respective vehicles on Thursday, June 25 as they prepare to ply their route after the LTFRB announced on Wednesday that UV express units and traditional jeepneys will be allowed to travel on roads in Metro Manila next week. – INQUIRER/GRIG C. MONTEGRANDE
MANILA, Philippines—The Land Bank of the Philippines (Landbank) has started to release cash grants amounting to P717,333,500 or P6,500 each to 110,359 Public Utility Vehicle operators for both jeepneys and buses across the country, the government bank announced.
In a statement, Landbank said the cash aid, which is in support of humanitarian efforts during the COVID-19 pandemic, was under the Cash Subsidy to PUV Operators Program of the Department of Transportation and Land Transportation Franchising and Regulatory Board.
P716,826,500 was credited to the existing Pantawid Pasada Program (PPP) fuel cash card amounts of 110,281 Public Utility Jeepney operators on November 16, 2020.
The remaining P507,000 was then credited to Landbank accounts of 78 Public Utility Bus (PUB) operators the following day.
Landbank President and CEO Cecilia C. Borromeo assured PUV operators and drivers that the remaining cash aid will be delivered soon.
Article continues after this advertisement“Landbank, in partnership with the DOTr and LTFRB, made it possible to quickly and safely distribute the cash subsidies to jeepney and bus operators who are challenged by the pandemic,” said Borromeo in a statement.
Article continues after this advertisement“We will continuously work with the transportation department to distribute the remaining cash aid to other beneficiaries the soonest the possible.”
Landbank, DOTr, and LTFRB signed a memorandum of agreement on October 12 that would distribute one-time cash assistance to a total of 178,244 PUV operators through the PPP fuel cash cards, existing accounts under Landbank or even in other financial institutions via InstaPay or PESONet.
A total of 120,000 PUJs, 24,374 UV Express units, 21,998 PUBs, 10,188 Filcabs, 1,259 minibuses, and 425 premium Point-to-Point buses are the beneficiaries of the cash subsidy program that would aid in their livelihood amid the COVID-19 pandemic.
Funds allocated for the cash disbursement program are under Republic Act No. 11494 or Bayanihan to Recover as ONE Act.
CFC
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