DA Asks for Additional Funding for Fuel Subsidy

The Department of Agriculture has stated that it would need an additional ₱600 million to fund its expanded fuel voucher program aimed at aiding farmers in managing the increasing oil prices.

The DA has stated that it had already filed a request for additional funding to the Department of Budget and Management (DBM) for its expanded Fuel Discount for Farmers and Fisherfolk Program (FDFFP).

To prepare for the implementation of the expanded FDFFP, the DA released a Memorandum circular (MC) 32 that includes agricultural commodities such as coconut, sugar, abaca, and tobacco.

Currently, the FDFFP budget of ₱500 million only lists corn farmers and fisherfolk as beneficiaries who have to use the subsidy to power their motorized bangkas and farm machinery says the DA.

The DA stated that the FDFFP was launched in March and had given a total of 126, 388 fuel discounts as of August 4. By the end of the month, the remaining eligible beneficiaries amounting to 32, 342 will have their accounts created.

The beneficiaries of the fuel subsidy can use their fuel discounts with the ₱3,000 subsidy.

“This is just part of the Department of Agriculture’s package of assistance to the agriculture sector, which continues to face challenges caused by the high cost of farm inputs,” according to DA Spokesperson and Undersecretary for Consumer and Political Affairs, Ms. Kristine Evangelista.

“The program aims to cushion the impact of the current global economic challenges to the agriculture sector, and enable the food production sector to be more productive,” she adds.

Source: Business Mirror