Commuters can heave a sigh of relief for now as the Land Transportation Franchising and Regulatory Board (LTFRB) announced on Tuesday that there would be no fare hike until March.
According to LTFRB board member Aileen Lizada, it will take them that long to finish studying all the fare hike petitions filed by different transport groups.
She said that they would have to hear the sides of both transport groups and commuters before the board could decide whether or not to approve the fare increases being sought following the implementation of the Duterte administration’s tax reform program.
“We need to protect the riders. However, the business [side of the transport sector] also has to be sustainable and viable so we need to find the balance. The increase can’t be implemented this month. We will do our best to fast-track [the hearings] but we’ll do it thoroughly and with due diligence,” she told reporters at the sidelines of a forum on Tuesday.
To date, transport network company Grab and the Philippine National Taxi Operators Association have filed petitions to hike their fares to cushion the impact of the Tax Reform for Acceleration and Inclusion (Train) Act which would impose excise taxes on petroleum products. Five jeepney transport groups also have a pending P2 fare hike petition in the LTFRB.
Because of the Train law, the price of gasoline will go up this year by P2.97 per liter while diesel and kerosene will increase by P2.80 and P3.36, respectively.
The LTFRB is expected to hold today initial discussions on the fare hike petitions and set a date for a hearing on the matter.
Lizada said that to help them better understand what would be an acceptable fare increase to both drivers and commuters, they would also need to consult the National Economic and Development Authority.
For now, the fares of public utility vehicles (PUVs) should remain the same, she stressed as she warned that those who raise their fare rates without the LTFRB’s approval would be penalized.
Lizada asked the public to help them by being vigilant and reporting any unauthorized fare hike.