G.O.B through the Ministry of Transport is giving 93 bus operators from across the country a 1.6 million dollar subsidy.
A press release today from the department of justice says quote: "The program is meant to benefit both bus operators and commuters."
The program, a response to the global surge in fuel prices, will last for six months and is aimed at both minimizing the financial impact on commuters and ensuring the sustainability of bus operators in Belize.
Here's some of what the officials had to say at the subsidy launch earlier today:
Dian Vasquez, Chief Transport Officer
"Public transportation is vital to the growth of any economy. Getting commuters from point A to point B to access opportunities, tourism, facilitate trade, education, employment - these are all vital moving pieces that stimulate economic growth."
Thomas Shaw, President, Belize Bus Association
"From government to government they say they would never touch fuel, because that's the way the government actually makes its money off the fuel tax and when they actually dug into that and touch the fuel subsidy, we realize that yes, these people really want to help us. With the bus fares, with the subsidy, it comes at a time when the industry was about to collapse. To be honest with you, if this wasn't really put in place, God knows where the industry would be right now."
Rodwell Ferguson, Minister of Transport
"I believe that every single operator should be happy that the ministry of transport has done their part for your own development."
"So we say effective May 15th that a subsidy will be given for 6 months. That's the first trial and we are going to cap the price of fuel at $13.50 a gallon. So as Mr. Usher says $861,000 over the next 6 months will be subsidize for fuel for the bus operators. That's $144,000 a month affecting 857 bus routes, because we have to make sure that the operators stay alive, provide the transportation services that is necessary, because transportation makes an economy grow and it drives an economy."
"Imagine one day the operator say okay we are not going to run today, it affects the lives of many Belizeans."
Gilroy Usher, Minister of State
"This fuel subsidy is being implemented for 6 months once the price of fuel is above a certain level. The subsidy for bus operators is a monthly refund of 91 cents per gallon for all the fuel purchased by the bus operator with runs longer than 13 miles. Therefore, during this time for example a bus operator who uses 500 gallons of diesel for the month will receive a refund of $455.00. That amounts to a saving of almost $500 on the cost of fuel he purchased for the particular month or a savings of almost $3,000 for the 6 months of the subsidy."
Approval for this fuel subsidy program was granted by Cabinet in April 2022. Again, it runs for 6 months.
