MANILA, Philippines — The Land Transportation Franchising and Regulatory Board (LTFRB) is waiting for a social impact assessment from the National Economic and Development Authority (NEDA) before deciding on the fare hike petitions filed by transport groups.
LTFRB member Aileen Lizada yesterday said they submitted copies of the fare hike petitions of jeepney and bus operators to the NEDA for its recommendation.
“NEDA will do a social impact assessment and from what I have gathered the recommendation will be out this October,” Lizada said in an interview with radio dzMM.
Jeepney operators want the base fare increased to P12 to help them cope with the rising prices of fuel.
The minimum fare for the first four kilometers is currently P9.
Bus operators are also seeking an increase, from P10 to P13.30 for ordinary buses and P15.95 from P12 for air-conditioned buses.
Lizada said the regulatory body should be cautious in coming up with a fare increase as it would not only affect the riding public but the entire economy.
This is the reason why aside from NEDA, the LTFRB is consulting the Department of Trade and Industry and Department of Energy on the matter.
“What we want is to provide the public with still reasonable fares but not contributing too much to the inflation rate,” Lizada said.
She appealed for patience from the transport groups and assured them the LTFRB would act on their petitions.
“We understand them but they also need to understand that we are also here for the riding public, not only for them, so we need to find a formula,” Lizada said.