LTFRB now accepting applications for transfer of CPC
MANILA, Philippines – The Land Transportation Franchising and Regulatory Board (LTFRB) on Thursday announced that it is now accepting applications for the transfer of Certificate of Public Convenience (CPC) for public utility vehicles (PUVs).
In a statement, the LTFRB said that the move was in response to some transport groups’ request to review Memorandum Circular (MC) 2016-010 that prohibits the transfer of CPC to other operators.
The said memorandum was aimed at addressing the commercialization of buy-and-sell franchises by operators.
After a review and consultations, however, the board set aside the prohibition and provided safeguards to prevent fraudulent schemes.
“The LTFRB is very mindful of the situation, and that is why we took careful consideration in the issuance of this circular. We needed to strike a balance between allowing a legitimate CPC transfer and at the same time deter any form of abuse,” explained LTFRB chairman Teofilo Guadiz III.
The reviewed memorandum simplifies aid distribution to government-funded Pantawid Pasada program operators and facilitates faster vehicle registration and transfer through the Public Utility Vehicle Modernization Program.
The LTFRB, however, has set conditions for applications for CPC transfers, including the subject being valid and subsisting, covering all authorized units, allowing only two transfers during the CPC’s validity, and payment of appropriate fees, excluding transfers during the first year or one year before expiry. (Harold Hernandez, INQUIRER.net trainee)