NEXT GENERATION JEEPNEY. A modernized public utility jeepney (PUJ) is seen in this photo taken on Sept. 11, 2023. The Land Transportation Franchising and Regulatory Board (LTFRB) on Tuesday (Nov. 7, 2023) reminded transport operators and drivers to join or apply for consolidation before December 31, 2023, and avail of the increased equity subsidy to purchase modern public utility vehicles. (Photo courtesy of Orlando Marquez, Sr.)
MANILA – The Land Transportation Franchising and Regulatory Board (LTFRB) on Tuesday reminded operators and drivers of public utility vehicles (PUVs) to join or apply for consolidation before year end and avail of increased equity subsidy for modern PUVs.
In a Bagong Pilipinas Ngayon briefing, LTFRB Technical Division Chief Joel Bolano said the deadline for PUV consolidation is Dec. 31 and encouraged PUV operators to follow the updated guidelines for consolidation through Memorandum Circular 2023-047.
The new guidelines, he said, is the result of feedback from stakeholders in the PUV Modernization Program (PUVMP) such as drivers, operators, commuters, private sector partners, national and local government agencies.
“Malaking pagbabago po ang nakalagay dito para sa mga gusto pa pong humabol bago pa ang December 31 (There are big changes included here for those who wish to make it to the deadline on December 31),” Bolano said.
The memorandum circular can be found at https://ltfrb.gov.ph/wp-content/uploads/2023/10/MC-2023-047.pdf.
Bolano highlighted the recent increase in the equity subsidy for those who wish to buy modern PUVs that can be availed under the PUVMP.
Under DOTr Order No. 2023-018 and LTFRB Memorandum Circular No. 2023-045, qualified transport cooperatives or corporations can borrow up to PHP280,000 to buy a Class 2,3 or 4 modern PUV.
On the other hand, a loan subsidy of up to PHP210,000 can be availed by cooperatives who buy a Class 1 modern PUV.
The new equity subsidies are an increase from the previous PHP160,000 offered under the PUVMP.
“Para 'yung equity nila na kailangan ibigay sa ating mga bangko ay hindi na ho manggagaling sa kanila. Kumbaga kahit tumaas man ang presyo ng konti ay mako-cover pa rin ng equity na ito na binibigay ng ating pamahalaan (This means the equity they have to give to the bank doesn’t have to come from the operators. Even if the price of the modern PUVs increase, it will still be covered by the equity from the government),” Bolano said.
Interested transport cooperatives can apply for the equity subsidy at the Landbank of the Philippines and the Development Bank of the Philippines.
“Kung qualified sila at ang kanilang routes for the loans, once ma-approve ito at mabigyan ng provisional authority o franchise na po yung kanilang mga unit, ay ire-release po yung equity subsidy (If they and their routes qualify for the loans, once it is approved and their PUVs are given the necessary provisional authority or franchise, the equity subsidy will be released),” Bolano added.
He said the recent consultation with transport stakeholders discussed the “just and humane transition” for the implementation of the PUVMP, distance policy for routes, the expanded timeline for purchasing modern PUVs, and route rationalization with the help of the local government.
To date, Bolano said the DOTr is lobbying for the approval of the proposed PHP1.6 billion budget for the implementation of the PUVMP.
“Kasama na po dito yung para sa mga equity subsidy, social support program, at doon po sa pagpapatakbo sa programa mismo kasama na yung route rationalization program ng PUVMP (This already includes funding for the equity subsidy, social support program, implementation of the program, and the PUVMP route rationalization program),” he said. (PNA)
