LTFRB assures commuters: No impending fare hike
MANILA, Philippines — The Land Transportation Franchising and Regulatory Board (LTFRB) has assured commuters that there is no impending fare hike even as the government implements its public utility vehicle modernization program (PUVMP).
Teofilo Guadiz III, LTFRB chairman, said any petition for fare increase must first go through hearings by the Board.
Guadiz noted that any fare hike will be thoroughly studied in consultation with different agencies.
“Several factors, such as inflation and cost of fuel, must be considered before the agency approves a new fare increase,” he said in a statement.
The current minimum fare for jeepneys remains at P13 for traditional units and P15 for modern jeepneys.
Guadiz earlier said they will not phase out traditional jeepneys as long as they remain roadworthy. He added that cooperatives will only be required to acquire new units by the third year of the PUVMP.
The LTFRB said it has achieved an 81 percent consolidation rate for jeepneys in its modernization program.
Guadiz said about 160,000 units have met the consolidation requirement under the PUVMP.
Over 10,000 units which did not comply with consolidation requirements are considered colorum units.