By Emmie V. Abadilla
The Department of Transportation (DOTr) doubled the equity subsidy for operators joining the Public Utility Vehicle Modernization Program from P80,000 to P160,000.
Already, DOTr Secretary Arthur Tugade signed a directive amending Department Order 2018-016 to address the affordability of modern PUV units.
From P80,000, the Department will now grant P160,000 per PUV unit as equity subsidy for existing PUV operators with valid franchises and PUV operators applying for new or developmental routes under the Omnibus Franchising Guidelines.
This should help drivers and operators transitioning to modern PUVs, especially during the pandemic.
The equity subsidy increase also includes those with applications from 31 July 31, 2018, Secretary Tugade noted.
The subsidy is retroactive. Those who availed ofcthe P80,000 subsidy before can get the additional P80,000.
Land Transportation Franchising and Regulatory Board (LTFRB) Chairman Martin Delgra stressed that the subsidy would allow more PUV drivers and operators to participate in the PUVMP.
“More PUV operators and drivers can now participate in the PUV Modernization Program as they are assured of access to loans especially from government-run banks,” he pointed out.