The Land Transportation Franchising and Regulatory Board (LTFRB) has reassured commuters that there is no impending fare hike despite the implementation of the public utility vehicle modernization program (PUVMP).
According to Teofilo Guadiz III, LTFRB chairman, any petition for a fare increase must first undergo hearings by the Board. Guadiz emphasized that any fare adjustment will be meticulously studied in collaboration with various agencies.
Factors such as inflation and the cost of fuel will be taken into account before the agency approves any new fare hike, Guadiz stated in a press release. The current minimum fare for jeepneys remains at P13 for traditional units and P15 for modern jeepneys.
Guadiz previously mentioned that traditional jeepneys will not be phased out as long as they are considered roadworthy. He also mentioned that cooperatives will only need to acquire new units by the third year of the PUVMP.
The LTFRB reported an 81 percent consolidation rate for jeepneys in its modernization program. Guadiz announced that approximately 160,000 units have met the consolidation requirement under the PUVMP, while over 10,000 units that did not comply are classified as colorum units.
