THE Land Transportation Franchising and Regulatory Board (LTFRB) has committed to issue a final resolution on pending fare increase petitions ‘in the soonest possible time,’ after the Department of Transportation (DOTr) ordered it to begin public consultations on the pleas.
In a statement, the regulator said it will recompute the appropriate fare adjustments based on the petitions of transport groups Manibela and Piston, upon the instructions of Transportation Secretary Giovanni Lopez.
‘What can be assured, however, is that instead of an interim adjustment given the price of petroleum products, the LTFRB will come out with a final resolution in the soonest possible time,’ the agency said.
Piston, which lodged its plea about three months ago, is seeking a P10 increase in the minimum fare, while Manibela’s more recent petition asks for a P2 hike.
The LTFRB said the recomputation will factor in ‘the capacity of the riding public to absorb additional transportation costs and the overall inflationary effects of any amount of fare adjustment to the price of basic goods and services.’
A final ruling would settle rates that have so far moved only provisionally. The fare hikes that took effect last March 19-which raised rates across all modes of land transportation by an average of 19 percent and brought the minimum fare for traditional jeepneys to P14 from P13 and for modern jeepneys to P17 from P15-remain provisional.
Lopez, for his part, said he has instructed the LTFRB to start public consultations and coordinate with its regional directors nationwide, noting that they should balance the interests of both drivers and commuters.
He cautioned that any fare adjustment must be weighed carefully against its inflationary impact.
‘The complication right now is that we have to also address inflation,’ he said. ‘I understand that there are several petitions filed before the LTFRB for this fare hike. I instructed LTFRB to start the process like public consultation and consultations with the regional directors nationwide.’
While the petitions undergo review, Lopez assured drivers that existing government support programs remain in place, including the P10-per-liter fuel subsidy program. The LTFRB said the fuel discount will continue while it explores expanding coverage to reach as many public utility vehicles as possible and increasing the discount amount.
‘[LTFRB should] start the process pero tingnan ni’yo rin if we can, might as well, expand itong government interventions like the fuel subsidy or fuel discount. In that way, we can manage the inflation,’ he said, adding that the President is expected to take up the issue as well.