MANILA – President Ferdinand R. Marcos Jr. said ferry and bus operators have committed not to increase fares during the Holy Week travel period, as the government moves to cushion the impact of rising fuel prices.
In an interview with Bloomberg Tuesday, Marcos said the government is trying to mitigate the effects of fuel price increases on the riding public and the middle class, as travel demand is expected to surge.
“We’ve gotten commitments from ferries that they will not raise their fares, we’re doing the same thing with buses that they will not raise their fares and they do not limit or cut down the trips they will be taking,” the President said.
Holy Week is one of the country’s peak travel seasons, with large numbers of passengers expected to travel to the provinces.
“We’re doing everything we can so the riding public, the general public, the people who are working, the middle class, they are the ones we are most concerned about, so it does not become a drag to their livelihoods,” he added.
Asked about the government’s response to fuel price adjustments, Marcos said subsidies are being provided primarily to the transport sector.
“In the next two days, we’re going to be spending about PHP2.5 billion in fuel subsidies. We have planned four of those rounds of subsidies,” the President said.
The assistance will be extended to operators and drivers of ships, buses, public transport, and delivery systems to cushion the impact of fuel price increases.
Marcos on Tuesday signed Executive Order 110 declaring a state of national energy emergency, citing risks to the country’s energy security amid the ongoing conflict in the Middle East. (PNA)