THE LAND Transportation and Franchising Regulatory Board (LTFRB) has dismissed the possibility of a three-fold fare hike once the government’s Public Utility Vehicle Modernization Program (PUVMP) is fully implemented.
In a statement released on Thursday, LTFRB Chairman Teofilo E. Guadiz, III assured the public that a fare increase of between P45 and P50 within the next five years, as projected by progressive-leaning think tank IBON Foundation, is not going to happen.
“It is statistically impossible for modern jeepneys to impose exorbitant fares,” Mr. Guadiz said.
In October, the LTFRB approved the P1 provisional fare increases nationwide, raising the minimum fare to P15 for modern jeepneys.
The estimate of IBON Foundation hinges on the higher cost to operate and maintain modern jeepneys.
To recall, the LTFRB has issued guidelines allowing unconsolidated PUVs to continue operations until the end of January, giving them a one-month grace period beyond the Dec. 31, 2023 consolidation deadline.
However, the LTFRB has yet to issue the latest consolidation data. The memorandum order, effective Dec. 25 last year, permits unconsolidated PUVs to operate in areas with less than 60% consolidated authorized units (NAUs). — Ashley Erika O. Jose