Government eyes loans to help transport sector put up gas stations

MANILA, Philippines – President Aquino has laid out measures to help transport groups cope with high oil prices, including loans to set up their own gasoline stations.

In an ambush interview during the Philippine Information Agency’s 25th anniversary celebration in Quezon City, the President said the Development Bank of the Philippines and the Philippine National Bank could provide up to P10 million per transport cooperative to put up the gasoline station.

Aquino said his administration is also working on a mechanism that would link drivers and transport operators to manufacturers and suppliers, who could provide cheaper materials and spare parts for their vehicles.

“There are a lot of schemes but these are the most workable. We will talk to the manufacturers. They can open factory outlets so (drivers of public utility vehicles) can go directly to them and cut the profit of the middleman. This will reduce their expenses in running their vehicles,” he said.

The President said he also asked the Department of Energy to work out a 30-day buffer supply of petroleum products.

He said the government would also continue its Pantawid Pasada program Public Transport Assistance Program (PTAP), which grants transport subsidy to drivers of public utility vehicles.

“There’s still an allocation of roughly something like about P200 million plus (for the PTAP). In short, we don’t need a new funding for it. We can still use that to service roughly about 60 percent (of the beneficiaries),” the President said.

Aquino said a review conducted by the Land Transportation Office (LTO) and the Land Transportation Franchising and Regulatory Board (LTFRB) of the list of PTAP beneficiaries showed that only 100,000 of the 300,000 target beneficiaries.