MANILA, Philippines -- President Gloria Macapagal-Arroyo announced on Wednesday a reduction in the toll at the North Luzon Expressway (NLEX) beginning June 30.
Although Arroyo did not say by how much the toll will be lowered, Jose de Jesus, president of the Manila North Tollways Corp. (MNTC), which operates the NLEX, set an initial estimate of about 5 centavos per kilometer of the 83-kilometer freeway.
Arroyo also said there will be no toll increase at the NLEX for the next two and a half years and that “subsequent increases shall be in smaller increments, owing to the new adjustment rate formula that is no longer subject to foreign exchange fluctuation.”
The “actual amount of toll reduction will be determined by the average of the exchange rate gain between January and June,” De Jesus told the Philippine Daily Inquirer (parent company of INQUIRER.net) over the phone.
“If the peso appreciates significantly, the amount of reduction could go up,” he said.
Arroyo directed the Toll Regulatory Board (TRB) to come up with a formula to determine the new rates, saying the MNTC, which operates the NLEX, is able to offer the reduced toll because of a windfall collection made possible by the strong peso.
Arroyo said the reduced toll would ease the burden on motorists and consumers already reeling from high prices of oil, electricity, and food.
"Low rate of toll means reduced cost of basic food items...lower transportation cost[s] for producers..." Arroyo said in a speech at the Egg Festival in Minalin, Pampanga.
This is the second time the toll will be reduced at the NLEX.
The first was in January last year, when the TRB also reduced the toll by 10 percent.
From Pampanga, Arroyo will proceed to Bugallon in Pangasinan to inspect the reconstruction of houses damaged by typhoon ‘Cosme.’
At 4 p.m., she will be in Baguio City to hear mass at the Our Lady of Atonement, in which papal nuncio to the Philippines Edward Joseph Adams, will be participating, and then meet with bishops for the opening of the Luzon North Regional Rural Congress.
