Manila: Trade and Industry Undersecretary Ceferino Rodolfo on Monday assured investors that measures are now being considered for the payment of arrearages under the Comprehensive Automotive Resurgence Strategy (CARS) program.

According to Philippines News Agency, the assurance came after President Ferdinand R. Marcos Jr. vetoed fiscal support for the CARS program, amounting to PHP4.32 billion, from the PHP6.793-trillion 2026 national budget, which he signed on Monday morning. This vetoed item is part of the government's effort to tighten allocations for unprogrammed appropriations.

Rodolfo, who leads the Board of Investments (BOI), stated, "We fully respect the decision of the President." He emphasized the understanding of the context behind the President's overall decision on Unprogrammed Appropriations. Rodolfo reassured investors, stating that the Department of Trade and Industry is collaborating with other agencies, primarily the Department of Budget and Management (DBM), to identify a mechanism to ensure the payment of CARS arrearages. This assurance is based on the validated delivery of performance commitments and a robust, transparent inter-agency process of vetting claims against the CARS Program.

The CARS program involves the government providing participating automotive firms with fixed investment support and production volume incentives. To date, PHP1.44 billion of the PHP5.43-billion budget has been released by the government.