The Land Transportation Franchising and Regulatory Board (LTFRB) on Wednesday said it would study all fare hike petitions stemming from the supposed effects of the Tax Reform for Acceleration and Inclusion (TRAIN) law.
Signed by President Rodrigo Duterte before Christmas, the TRAIN law takes effect this month.
“If there is a petition for fare increase by taxi operators or any transport group, they need to justify why the board should grant a fare increase and what services will be delivered. Likewise, we need to hear the side of the commuters’ group before the board issues an order,” LTFRB Director Aileen Lizada told reporters.
Lizada was commenting on reports that transport groups were planning to seek fare hikes due to the anticipated increase in fuel excise taxes and the prices of spare parts.
Under the TRAIN law, an initial excise tax on diesel of P2.50 per liter would be imposed this year, eventually increasing to P6 by 2020.
Pasang Masda national president Obet Martin said his group would ask the LTFRB next week to increase the jeepney minimum fare to P12 from the current P8.