P2B alloted for 'Pantawid Kuryente' program
Some P2 billion was set aside for the "Pantawid Kuryente: Katas ng VAT program" of the government benefiting some four million families that consume not more than 100 kilowatt hour a month.
This was disclosed by Energy Secretary Angelo Reyes during his recent visit in Iloilo City for the first leg of the Multi Sector Regional Dialogue on Climate Change, Energy and Development.
The "Pantawid Kuryente: Katas ng VAT program" provides a one-time P500 lifeline subsidy to households consuming not more than 100 kilowatt a month as part of the government's interventions to help the poor or the "lifeline users" cope with the increasing oil and food prices.
The program was created out of the benefits of the implementation of the expanded value added tax (EVAT), specifically from the 12 percent VAT on petroleum products.
"Due to our increased revenue collections from the implementation of the VAT on oil, we now have billions of pesos to fund programs and projects to uplift the lives of the poor", said President Gloria Macapagal Arroyo during the launching of the program.
Reyes said that the Presidential Task Force on Contingency Plan (PTFEC) is working overtime to finish the program's mechanism for its implementation.
"We want to finish the drafting of the mechanics as soon as we can, we are in a hurry as anyone else to finish the plan", said Reyes.
Reyes is the Vice-Chair of the Presidential Task Force on Contingency Plan (PTFEC) which President Gloria Macapagal reactivated to explore measures to mitigate the effects of the global increase in fuel prices. The Task Force is chaired by Executive Secretary Eduardo Ermita.
Recently, the PTFEC has tapped the academe to help government in formulating the contingency plan to cope with the unabated increase in oil prices. (PIA)