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NEDA Undersecretary Rosemarie Edillion (Screengrab from RTVM) MANILA - An official of the National Economic and Development Authority (NEDA) stressed the importance of government subsidies in helping address the impact of rising fuel prices on the public. During the Palace briefing on Tuesday, NEDA Undersecretary Rosemarie Edillion said the government has allocated under this year's national budget a PHP2.5 billion fuel subsidies for public utility vehicle (PUV) drivers and operators and a PHP500 million subsidy for the agriculture sector. She said NEDA is requesting for an increase in the amount of subsidies to PHP5 billion for the transport sector and to PHP1.1 billion for the agriculture sector. She, however, said they need to wait for the March 2022 fiscal report to check if there will an increase in revenue collections, which will be tapped for the additional subsidies. "Kapag magkakaroon ng excess revenues from the program, ito po ay magagamit natin sa pag-fund ng tinata

Rosemarie edillionNational economicDevelopment authorityNeda undersecretary rosemarie edillion screengrab from rtvm manila an official of the national economic and development authority stressed importance government subsidies in helping address impact rising fuel prices on public during palace briefing tuesdayEda undersecretary rosemarie edillion said the government has allocated under this year 39s national budgeta php2 5 billion fuel subsidies for public utility vehicle puv drivers and operators anda php500 million subsidy agriculture sector she neda is requesting an increase in amount of to php5 transport php1 1Aid they need to wait for the march 2022 fiscal report check if there will an increase in revenue collectionsHich will be tapped for the additional subsidies quot kapag magkakaroon ng excess revenues from programTo po ay magagamit natin sa pag fund ng tinatawag nating mga unprogrammed na appropriations soNg tingin naman po natin is malamang magkakaroon din excess collectionIto po natin kukuhanin ang subsidy if there will be excess revenues from the revenue program we can use this to fund what call unprogrammed appropriations think that bea likely in collectionsNd this is where we will get the funds for additional subsidyUot she said edillion authorities are closely monitoring latest developments on prices and noted that while fuel have posted upticks in recent weeks the rate of price increases last february remained tame inflation second month this year at 3 percent just like previous but monetaryMong othersXpect acceleration in the coming months as price of oil international market continues to jump edillion said because february 2022 inflation outcome authorities want ensure adequate food supplyHich account for the largest share in consumer price index cpi basket she said fuel products like liquified petroleum gas lpg as well energy and then transport also fora big chunk quot kaya dito nga po nakaabang iyong subsidiya ng gobyerno to make sure na mai maintain natin mababa ang presyo nitong mga ito this is where government subsidies are allocated prices remain lowUot she added pna