President Ferdinand Marcos Jr. has directed the Department of Budget and Management (DBM) to immediately release ₱21.47 billion to sustain infrastructure projects and cushion Filipinos from the impact of rising fuel prices driven by tensions in the Middle East.
In a statement Friday, the DBM said the fund release was fast-tracked to ensure uninterrupted delivery of essential services as global oil price hikes continue to affect transport fares and household expenses.
Budget Secretary Rolando Toledo emphasized the urgency of the move:
“Bawat pisong inilalabas natin ay para magpagaan ng buhay, makatulong sa hanapbuhay, o masigurong tuloy ang serbisyo para sa ating mga kababayan, lalo na ngayon na may mga pangyayari sa ibang bansa na may epekto sa araw-araw na buhay dito sa atin.”
“Sa panahon na tumataas ang fuel prices dahil sa krisis na nangyayari sa labas ng bansa, mahalagang kumilos ang gobyerno kung saan pinaka-kailangan, suportahan ang ating mga driver, protektahan ang mga commuter, at siguraduhing walang Pilipinong maiiwan sa bigat ng mga hamong ito,” he added.
Of the total amount, ₱2.49 billion was allocated to the Department of Transportation (DOTr) to fund the fuel subsidy program, providing direct assistance to drivers and operators to help them continue operations without immediately passing on higher costs to commuters.
Meanwhile, ₱18.65 billion was released to the Department of Public Works and Highways (DPWH) to sustain the progress of infrastructure projects nationwide, supporting construction jobs and preventing delays in economic activity.
An additional ₱324.36 million was also allocated to the DPWH for obligations related to foreign-assisted infrastructure projects, ensuring their timely completion.
The DBM assured the public that all fund releases comply with strict budgeting, accounting, and auditing rules to safeguard public funds and ensure proper utilization.