MANILA, Philippines - The Land Transportation, Franchising and Regulatory Board (LTFRB) has approved a petition for a fare reduction for buses plying the Cagayan de Oro-Iligan route.
In a resolution signed by LTFRB chairman Jaime Jacob and board members Manuel Iway and Samuel Julius Garcia, the board said the fare cut was approved to ease the suffering of victims of catastrophic floods that devastated the two cities late last year.
“This board cannot shirk from its bounded task and responsibility…it should be more mindful of its mandate that their primary purpose is to serve the interest of the public and are for the benefit of the state and its citizen,” the resolution stated.
Iway said the new rates would affect 157 bus units.
Rural Transit Inc. sought a P60 fare reduction for air-conditioned buses and a P50 fare reduction for regular buses in a petition filed last Jan. 24.