Equity subsidy for modern PUVs doubled to P160,000

Published June 20, 2020, 12:00 AM

by manilabulletin_admin

By Alexandria San Juan

The Land Transportation Franchising and Regulatory Board (LTFRB) is set to implement the increase in equity subsidy for public utility vehicle (PUV) operators who would shift to modernized vehicles in line with the government’s modernization program.

Under the Department of Transportation (DOTr) Order No. 2020-006, the government would now grant each driver P160,000, from the original P80,000, as equity to qualify for loans with state-run Land Bank of the Philippines and Development Bank of the Philippines (DBP).

The order, signed by Transportation Secretary Arthur Tugade on June 5 this year, was an amendment to the provision of DOTr’s Department Order 2018-16 to increase the equity subsidy due to “prevailing economic factors” such as the increase in prices of modernized vehicles.

 
CLICK HERE TO SIGN-UP
 

YOU MAY ALSO LIKE

["news","news"]
[2000756,2918003,2917999,2917983,2917986,2917980,2917976]