Loans on offer for Philippine buses to convert to LPG

The Philippine government has made available a Php500 million (US$10.52 million) loan facility to enable public transport vehicles to convert from diesel fuel to less environmentally damaging liquefied petroleum gas (LPG). Presidential Management Staff Director-General Hermogenes Esperon said the fund to be used for the program will be sourced from the taxes derived by the government from motor vehicle users for the use of motorways or the motor vehicle user’s charge. Another objective of the government’s green agenda is to wean the country off its dependence from foreign imported oil and develop alternative energy sources such as geothermal, solar, wind energy and biofuels. Like most countries, the Philippines sources fuel for its industry and transportation from abroad. This makes the country susceptible to changes in the price of the commodity in the world market. Diesel is the main fuel used for most public transport vehicles in the country. (July 23, 2009)