Mariano Benedicto II, Toll Regulatory Board executive director, said in a statement that the TRB is set to hear CMMTC’s petition "for an interim toll fee increase" tomorrow.
CMMTC is the investor in the construction of the Skyway from Buendia to Bicutan and the upgrading of the South Luzon Expressway (SLEX) from Magallanes to Alabang.
Ramon Borromeo, CMMTC vice president, said that revenues from the current toll fees are not enough to pay the interest and the principal of the $514-million project.
Borromeo blamed the peso devaluation as the factor that forced CMMTC to ask for a toll increase. Added to it are the color-coding vehicle reduction program and various delays in the Skyway projects, he explained.
CMMTC is asking for P75 for class 1 vehicles, P190 for class 2, and P300 for class 3 vehicles using the elevated and at-grade sections of the Skyway.
From Magallanes to Bicutan, the CMMTC is seeking P35 toll fee for class 1 vehicles, P90 for class 2 and P140 for class 3. From Bicutan to Sucat–P20 for class 1; P50 for class 2; P80, class 3, and from Sucat to Alabang–P20, class 1; P50, class 2, and P80 for class 3 vehicles.
The petition includes C-5 Road and Merville entry and exit points.
Public hearing for the said petition will be held at 2 p.m. tomorrow at the second floor of the Integrated Bar of the Philippines Bldg., Julia Vargas Ave., Ortigas Center, Pasig City, the statement said. – Pete Laude