DOTr doubles equity subsidy for PUV modernization program to P160,000

In a bid to help public utility vehicle (PUV) drivers and operators transition to modernized jeepneys, the Department of Transportation (DOTr) has approved to double the equity subsidy for those who will join the government’s Public Utility Vehicle Modernization Program (PUVMP).

The DOTr said on Thursday that Transportation Secretary Arthur Tugade signed a directive amending a provision in the Department Order 2018-016 to address the affordability of modern PUV units and financial viability of the program for drivers and operators participating in the PUVMP.

From P80,000, the DOTr said that it will now grant P160,000 per PUV unit as equity subsidy for existing PUV operators with valid franchises as well as PUV operators applying for new or developmental routes under the Omnibus Franchising Guidelines.

The department said that the move aims to further assist drivers and operators as they transition to modern PUVs, especially during the pandemic.

According to Secretary Tugade, the increase in equity subsidy is a way of helping stakeholders who are participating in the PUVMP as the country begins to gradually shift to the “new normal” amid the coronavirus disease situation.

“Habang sumusulong tayo patungo sa pagbabago, ito ‘ho ang paraan namin para sabihing kaagapay ninyo kami sa Kagawaran ng Transportasyon. Contrary to the statements of other critics, we are here to assist and hear the concerns of all stakeholders. Especially now that we are gearing to a future wherein modernization will greatly benefit everyone, kailangan ‘ho natin ito,” Tugade said.

He also noted that the equity subsidy increase also includes those with applications from July 31, 2018.

“Retroactive ho ito. Ang ibig sabihin, kahit na nakakuha na ng previous amount, makukuha pa din ho ng driver o operator ‘yung balanse,” he emphasized.

The development was welcomed by Land Transportation Franchising and Regulatory Board (LTFRB) chairman Martin Delgra who said it 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. We are assuring our PUV drivers and operators that the DOTr and the LTFRB are always here to support their movement towards modernization,” Delgra said.

Most Popular

Woman driving without license arrested after assaulting MTPB enforcer

A 26-year-old female driver was arrested after assaulting, resisting, and disobeying a Manila Traffic and Parking Bureau (MTPB) officer in Malate, Manila...

LTO revamps driver’s license restriction codes

The Land Transportation Office (LTO) revamped the restriction codes on driver’s licenses, featuring a more detailed alphanumeric system that identifies new vehicle...

DLSU places 3rd in Shell Eco-marathon Virtual League’s Road to 2050

The De La Salle University (DLSU) Eco Car Team from the Philippines won in the Shell Eco-marathon (SEM) Virtual League, an annual...

SMC installs first batch of MRT-7 trainsets

San Miguel Corporation (SMC) installed over the weekend the first batch of trainsets for its Metro Rail Transit (MRT)-7 project.

Latest

AVID remains on course despite ‘Ghost Month’ slump

The Association of Vehicle Importers and Distributors, Inc. (AVID) cruised along its recovery trend with a 33%...

Volvo PH earns safety seal certification

Volvo Philippines (Volvo PH) has earned its safety seal certification from the Department of Labor and Employment...

A merger in mobility: Global auto components giant Aisin collaborates with Advics and Art

Almost half of all cars sold in the Philippines are Toyotas. You see Toyotas on the road...

Is your vehicle ready for heavy downpours?

The rainy days are here. For motorists, this only means paying more attention while driving since inclement...

Rise of electric vehicles opens up opportunities for PH to become a regional eMobility player

The rise in the adoption of electric vehicles (EVs) has opened up new opportunities for the Philippines...

More Articles Like This