- LTFRB asks malls, other establishments for 50% cut in rental for PUV terminals
THE LAND Transportation Franchising and Regulatory Board (LTFRB) requested shopping malls and other establishments to slash by half the rental fees for public utility vehicle (PUV) terminals to reduce operational costs.
LTFRB chairperson Atty. Vigor D. Mendoza II said the move hopes to help cushion the impact on PUV operators in the face of sharp increases in the price of petroleum products.
In a statement, LTFRB stated it has sent letters to owners and managers of establishments with PUV terminals.
“We have already sent letters to as many owners and managers of establishments with PUV terminals to reduce the rental fees as a way of assistance to the public transport sector,” Mendoza said.
A letter of appeal from LTFRB regional directors was delivered to terminal owners and operators in their respective jurisdictions.
The LTFRB regional directors are directed to monitor the development to assist the transport sector as soon as possible.
“The assistance that would be provided by the establishment owners will greatly contribute to easing the financial strain currently experienced by the transport sector,” Mendoza said.
The LTFRB has extended assistance to the public transport sector, starting from the P5,000 fuel subsidy, along with the P5,000 cash grant from DSWD.
Toll fees in expressways were also cut down as part of the measure to address the financial strain of the fuel price hike on drivers.
The LTFRB earlier requested government financial institutions to waive any penalty for the delay of the payment of the monthly amortization of modern jeepneys.
“The national government is continuously finding ways to cushion the effects of this challenge,” Mendoza said.
