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Manila Bulletin devider Philippines devider National devider Transport groups seek immediate P-1 provisional fare hike as petition for fare increase set for LTFRB consideration on Sept. 26

Transport groups seek immediate P-1 provisional fare hike as petition for fare increase set for LTFRB consideration on Sept. 26

Published Sep 13, 2023 10:59 am

The Land Transportation Franchising and Regulatory Board (LTFRB) will discuss all the petitions for fare increase on Sept. 26, and transport groups are asking that a provisional P1 fare increase be immediately implemented after the hearing. 

LTFRB chairman Teofilo Guadiz III said there are two pending petitions for fare increase: one transport groups are asking P4 increase for the first four kilometers and P1 for every succeeding kilometer while another group is asking for P2 increase for the first four kilometers and P1 for every succeeding kilometer. 

“We will be asking the transport groups to consolidate their petitions in order for us to expedite our decision,” said Guadiz.

But over and above the fare hike, Guadiz said the transport groups are asking P1 provisional increase within, after or a few days after the Sept. 26 hearing, citing the continuous increase in the price of petroleum products for almost three months now.

He said the P1 provisional increase, according to transport groups, should ne in effect while the LTFRB is yet to decide on their petition for fare hike. 

Guadiz, however, emphasized that the granting of both the provisional fare hike and the fare hike itself are complicated due to adverse effects on the economy.

He explained that every increase in the fare hike will immediately have a domino effect on the prices of commodities and services in the country.

“We understand the concerns of the transport groups but we cannot make action immediately because all our actions should still be studied because of the impacts on the country’s economy,” said Guadiz.

This is the reason, he said, why they have to submit their findings to the National Economic and Development Authority (NEDA) for further review as to how much and when would be the proper time to implement any fare increase.

“We recognize the necessity of a fare hike, but we have to take into consideration the needs of the economy,” said Guadiz.

But he assured the transport groups that the fuel subsidy that the government will start downloading to the PUV operators will have no effect on the petitions for fare increase.

Related Tags

fare increase LTFRB
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