Metro Manila (CNN Philippines, August 23) — The joint memorandum circular (JMC) required by the Budget department for the release of the ₱3-billion fuel subsidy will “hopefully” be submitted next week, according to the Land Transportation Franchising and Regulatory Board (LTFRB).
In a press briefing Wednesday, LTFRB Executive Director Robert Peig said the board is finalizing amendments to the JMC, which should stipulate guidelines for the subsidy.
“Hopefully matapos ngayong araw at mai-route for signature ng partner agencies po natin,” he said. “‘Yun na lang po hinihintay ng Department of Budget and Management (DBM) kasi may mga amendment po na kailangan ma-incorporate.”
[Translation: Hopefully it will be finished today and routed for signature by our partner agencies. That’s all the Department of Budget and Management is waiting for because there are amendments that need to be incorporated.]The DBM has required a JMC signed by the LTFRB, Department of Transportation, Department of Energy, and Department of Information and Communications Technology before it would release the ₱3-billion subsidy.Asked whether the release of the budget for the fuel subsidy is possible next week, Peig said “hopefully.”
