Says provisional rollback applies to NCR, Regions III and IV
(Eagle News)–The Land Transportation Franchising and Regulatory Board has ordered a provisional rollback in the minimum jeepney fare to P9.
The LTFRB said in its three-page resolution the provisional rollback applied to the National Capital Region and Regions III and IV.
The resolution was signed by LTFRB chair Martin Delgra, board member Ronaldo Corpus and attested to by executive director Samuel Jardin.
According to the resolution, the provisional rollback was “without prejudice” to the petition against the LTFRB’s Oct. 18 order making the provisional increase of P1 on the minimum jeepney fare for the first four kilometers in those regions permanent, and adding another P1 to the same,for a total of P10.
The LTFRB added a Technical Working Group would deliberate on a formula “that shall predetermine fare rates adjustment as set by economic indicators such as world market price of crude oil, foreign currency exchange rate, consumer price index, inflation rate, and the financial viability of the public transportation system, among others.”
