Modern PUV acquisition subsidy raised to P210,000 – P280,000
In a statement on Thursday, DOTr said Secretary Jaime Bautista had already signed the Department Order (DO) No. 2023-018 — amending a provision of DO No. 2018-016 and increasing the equity subsidy to P210,000 to P280,000 per unit from the previous P160,000 — last August 31.
“Para sa mga operators na bibili ng Class 1 PUV units, mabibigyan sila ng P210,000 bawat unit, habang ang mga bibili naman ng Class 2, 3, o 4 ay makakatanggap ng P280,000.00 bawat unit,” DOTr said.
(Operators who plan to buy Class 1 PUV units will receive P210,000 per unit, while those purchasing Class 2, 3, and 4 will receive P280,000 per unit.)
The approval of the new equity subsidy, the DOTr said, is aimed at helping consolidated entities purchase modern PUV units “while further reducing the cost of their monthly amortization.”
Beneficiaries of the said subsidy include consolidated PUV operators with a valid Provisional Authority or Certificate of Public Convenience for purchasing modern PUV units under such special loan facilities.
The DOTr added that first movers or existing borrowers under its Program Assistance to Support Alternative Driving Approaches and Special Package for Environment-Friendly or Pasada and Efficiently-Driven Public Utility Vehicles or Speed PUV were also included in the list of beneficiaries.
Moreover, for first movers or existing borrowers who already received the P160,000 subsidy, an additional fund will be released for them depending on the type of unit they purchased.