The Land Transportation Franchising and Regulatory Board will try to come up with a formula for a predetermined fare for public transportation in the country.
Members of the LTFRB’s technical working group (TWG) which will meet on Monday in Manila, will try to come up with the formula and discuss the fate of a fare structure for public transportation.
This was what LTFRB Chairman Martin Delgra III said during his Nov. 27 visit to Cebu.
“Part of our ginalihok karon katong directive ni Secretary (Arthur) Tugade (of the Department of Transportation) for LTFRB to come up a formula by which we will be able to predetermine fare,” said Delgra.
The TWG’s meeting and the topics discussed has become more relevant to the public especially since the fuel companies had recently implemented a series of fuel price rollbacks amid the easing of the prices of oil.
In fact, petroleum company, PTT Philippines, announced on Sunday that there would be a price rollback on their fuel products ranging from P2.00 to P2.10 per liter of gasoline and diesel.
The price adjustment will take effect on Tuesday.
With the calculated fare matrix, Delgra said it would now be easier to predetermine fare of public transportation especially from factors that would affect such.
These include the fuel prices, consumer price index and inflation rate, Delgra said.
“The technical working group will convene to cite the process of discussing the formula,” he added.
The TWG, headed by LTFRB Executive Director Samuel Aloysius Jardin, is composed of representatives from the Department of Trade and Industry (DTI), Department of Energy (DOE), Department of Labor and Employment (DOLE) and National Economic and Development Authority (NEDA).
Delgra said the University of the Philippines (UP) transport planners will be joining the TWG.
He added that they are targeting to come up with the formula before the year ends.