DAVAO CITY — The Department of Agriculture is set to release the fuel subsidy to the farmers and the fisherfolks in the last week of March or early April.
Agriculture Assistant Secretary Noel Reyes, said about 162,000 corn farmers and fishers will benefit from the ₱500-million subsidy. Each beneficiary will receive ₱ 3,000 and it will be distributed via debit card.
The agency announced the subsidy as the country braces for another big-time fuel price hike on Tuesday, March 8 with Unioil Petroleum Philippines saying diesel price may go up by ₱5.40 to ₱5.50 per liter and gasoline price may increase by ₱3.40 to ₱3.50 per liter from March 8 to 14.
In February, Agriculture Secretary William Dar said the guidelines for the distribution of the fuel subsidy were “ready” but the funds could not be disbursed yet.
He said the subsidy has a trigger mechanism among farmers who will be affected by the next round of increases.
Earlier on, The Department of Energy has assured that the armed conflict between Ukraine and Russia would have no direct effect on the country.
