Diokno: NLEX rate increase will be staggered ‘over several years’
MANILA, Philippines — Finance Secretary Benjamin Diokno said the approved toll rate increase for those passing through the North Luzon Expressway (NLEX) will be implemented within the next several years instead of a “one-time implementation.”
The statement comes a day after the Toll Regulatory Board said the new rates will be implemented starting next Thursday. The increase is based on petitions that had been pending for years, including those dating back to 2014 and 2012.
Diokno said the government “had to act on petitions from 2010” although the rate increase will be for staggered implementation.
“The [increases] piled up because of the inaction of previous administrations,” Diokno, who was a member of the Duterte Cabinet, told reporters in a Viber message.
NLEX Corp. has the concession rights over the 84-kilometer expressway that runs from Quezon City to Pampanga. Diokno said that allowing the toll increase is part of promoting public-private partnerships, where private firms built and operate infrastructure like highways on behalf of the government for a fixed period. Concessionares collect fees from users — motorists, in the case of NLEX — to recoup their investment and make profits.
The government only has a 3.46% stake in NLEX Corp., while private shareholders include MPT North Corp. with a 70.78% majority stake, BDO Unibank, EGIS EGIS Investment Partners Philippines Inc., and Global Fund Holdings.
“The petitions were carefully studied and analyzed,” Diokno said. “[The] government needs to perform its contractual obligations under the Supplemental Toll Operations Management.”
The TRB adjusted rates for the open system (Balintawak, Caloocan, Mindanao Avenue to Marilao), the closed system (North of Marilao to Sta. Ines, Mabalacat City), the Subic-Tipo, and for those traveling the expressway from end to end.
Jeepney drivers with the Pasada Pass, the Tsuper Card discount, and those under the rebate program are not covered by the rate increase.
“Even if the new provisionally approved toll rate adjustments have already undergone a thorough and lengthy review, they are still subject to continuing review by TRB,” the board said in a statement Saturday.
- Latest
- Trending
