The Land Bank of the Philippines (LANDBANK) has delivered P1.1 billion worth of
fuel subsidy to 190,130 public utility vehicle (PUV) drivers and operators as of 09
November 2023, as part of its continued support to the transport sector amid rising
fuel prices.
Under the Fuel Subsidy Program of the Department of Transportation (DOTr) and
the Land Transportation Franchising and Regulatory Board (LTFRB), LANDBANK has
distributed subsidies to drivers and operators of public utility jeepneys and buses,
taxis, and transportation network vehicle services (TNVS), among other qualified
beneficiaries.
“LANDBANK is one with the National Government in extending timely and responsive
assistance to the local transport sector. Rest assured that we are ramping up the
delivery of fuel subsidy to support PUV drivers and operators nationwide,” said
LANDBANK President and CEO Lynette V. Ortiz.
LANDBANK is closely coordinating with the DOTr and LTFRB for the immediate
distribution of financial aid to a total of 1.36 million target beneficiaries under the
Fuel Subsidy Program.
LTFRB is continuing to submit lists of qualified beneficiaries to LANDBANK, while the
Bank is facilitating the crediting of fuel subsidies through the beneficiaries’ existing
accounts in LANDBANK and other banks.
Under the Program, drivers and operators of modernized public utility jeepneys and
utility van (UV) express units receive P10,000.00 each, while drivers and operators
of traditional PUV and TNVS receive P6,500.00 each.
LANDBANK resumed the distribution of fuel subsidies to qualified PUV drivers under
the Fuel Subsidy Program on 21 September 2023, after the Commission on Elections
(COMELEC) approved the LTFRB's request to exempt the Program from the election
spending ban.
