(Eagle News)-The Department of Transportation on Friday, Jan. 3, clarified there was no increase in the fares of the Metro Rail Transit 3, and the Light Rail Transits 1 and 2.
According to the DOTr, only the issuance fee of the Beep stored value card has increased based on an automatic provision indicated in the concession agreement signed by the then-Department of Transportation and Communications and AF Payments Inc., the concessionaire jointly owned by the Ayala Group and Metro Pacific Investments, on March 31, 2014.
According to the DOTr, Sec. 16.5.b of that 2014 agreement states:
“Any Stored Value Card distributed by the Concessionaire until 31 December 2019 shall be charged an ISSUANCE FEE of not more than Twenty Pesos (PhP 20); and any Stored Value Card distributed by the Concessionaire after 31 December 2019 shall be charged an issuance fee of not more than Thirty Pesos (PhP30).”
The DOTr said it is currently reviewing the concession agreement and all its provisions, “with the end view of determining how best to protect public interest.”
“A report will be provided to the public soonest on our evaluation and review,” the DOTr said.
