THE PHILIPPINE National Oil Co. (PNOC) on Wednesday asked senators to include a clause in the 2023 General Appropriations Act (GAA) that will make the proposed targeted fuel relief fund sustainable.
“We need a special provision in the GAA that will make the targeted fuel relief fund, with a budgeted amount of P2.5 billion, become a revolving fund,” PNOC President and Chief Executive Officer Jesus Cristino P. Posadas told a Senate energy committee hearing.
He noted that the fuel relief fund is just a one-time expenditure under next year’s national budget.
“We would like to request the Senate committee on energy’s support on this particular targeted fuel relief program as an immediate program to help the most affected sectors,” he added. — Alyssa Nicole O. Tan