Aquino OKs one-month fuel subsidy for public transport

MANILA, Philippines—President Benigno Aquino III has approved an executive order granting fuel subsidies for a month to public utility jeeps and tricycles to address the series of exorbitant price hikes in recent weeks.

Aquino said the government would release P500 million for the subsidies. He said the government would distribute “smart cards” to holders of PUJ and tricycle franchise.

Aquino said the subsidies would be in lieu of approved fare hikes. He indicated that buses wouldn’t be covered as the Land Transportation and Franchising Regulatory Board was still hearing bus operators’ petition for fare increases.

A provisional P1-increase in bus fares is also already in effect.

Aquino said he approved the subsidy on Monday.