LTFRB okays 25 PUV co-op applications for subsidy
The Land Transportation Franchising and Regulatory Board (LTFRB) has approved the application of 25 transport cooperatives for a subsidy in the procurement of modern public utility vehicles (PUVs) under the Public Transportation Modernization Program (PTMP).
In a statement on Saturday, LTFRB Chair Vigor Mendoza II said the approval of the applications of the 25 transport cooperatives “will pave the way for the acquisition of 162 more modern jeepneys, which translates to more public utility vehicles on the road to cater to the growing number of Filipino commuters.”
“Our commitment to fast-tracking all the pending petitions is aimed at improving the quality of service in terms of public transportation in the country. The Filipino people deserve more good services and fast government response to ensure their welfare and comfort,” Mendoza said in the statement.
“We are working double [time] to resolve all these pending petitions, applications, and motions without compromising the new petitions and motions. The changes at the LTFRB have been considerable,” he added.
Financial institutions
According to the LTFRB, the approval of the applications is under the Expanded Equity Subsidy (EES), which allows the board, through the Department of Transportation, to partner with private and government financial institutions in assisting transport operators as they avail themselves of loan packages for modern jeepneys.
The LTFRB likewise noted that the EES “provides a significant amount as government subsidy for every unit that transport cooperatives would acquire.”
The agency is also reviewing other applications for government subsidies under the PTMP, Mendoza said.
Former LTFRB Chair Teofilo Gaudiz III said last October that the PTMP will be “fully implemented” despite the delays, saying that the agency remains focused on guaranteeing its “unimpeded implementation.”
High costs
The PTMP, previously called the Public Utility Vehicle Modernization Program or PUVMP, has encountered several controversies, including allegations of being “antipoor” and “anticommuter.”
Various operators and drivers recently lamented that the government subsidies were not enough, saying that they could not shoulder the high costs of the modern jeepneys.
Transport groups have time and again called for transport strikes in protest of the modernization policy first implemented by Rodrigo Duterte’s administration and pursued further by his successor, President Marcos.
