MANILA — Land Transportation and Franchising Regulatory Board (LTFRB) Chairperson Teofilo Guadiz III has debunked claims that jeepney fare hikes may rise as high as P50, following the implementation of the public utility vehicle modernization program (PUVMP).
“P15 is far from P50. Such claims of commuters’ groups are not true,” Guadiz said.
According to the LTFRB chief, the claims are “statistically impossible” and are not logical.
“Ever since before, the LTFRB has been balancing the needs of drivers and commuters when fuel prices rise. That is why there is no logic that fares may rise to P50 in five years. It is really statistically impossible,” he said.
The LTFRB set the deadline for consolidation of franchises into cooperatives on December 31, 2023, but those that have not consolidated may still operate until January 31, the agency said in a memorandum. (Adrian Parungao © Philippine Daily Inquirer)
