THE Land Transportation Franchising and Regulatory Board is urging government financial institutions to provide assistance to jeepney operators and drivers as the agency pursues the implementation of the jeepney modernization program.
LTFRB board member Aileen Lizada, in an interview, said the Landbank and the Development Bank of the Philippines should develop a mechanism that will provide loans to support the development of public utility jeepneys in the country.
She reiterated it was important that financial aid must be provided to PUJ drivers to supplement their take home pay and improve their living conditions.
Lizada expressed support for the proposal of transport groups that the Pantawid Pasada or fuel subsidy cards for public transport operators and drivers be utilized as a seed fund to facilitate access on loans from banks and other financial institutions.
She also suggested that a financial literacy program be established in order that PUJ operators and drivers are able to manage and further increase their income.
“It is very important that we must empower them considering their contributions in our society,” Lizada emphasized.
Lizada also said the LTFRB was coordinating with the Department of Transportation and the Department of Finance for the implementation of the financial mechanism for the jeepney modernization program.
For its part, the DoF has said it will allocate P8 billion for the Pantawid Pasada to offset the impact of rising fuel prices due to the planned excise tax on petroleum products and the jeepney modernization program in line with the tax reform initiatives of the government.
Under the Pantawid Pasada program, the government plans to extend cash cards to public transportation drivers which they can use whenever they buy fuel.
As for the modernization program for public utility jeepneys, PUV drivers and operators will get assistance to make their vehicles more efficient and obtain better gas mileage.
The program aims to modernize the fleet of jeepneys plying the road though a low carbon and low emission vehicle technology through imposing a 15 year limit on PUJs.
Standards on carbon emission and fleet management and maintenance would also be imposed to ensure passenger safety, and improve air quality.
