Philippine News Agency
LTFRB seeks talk with GFIs to aid modernized PUV operators with loans
The Land Transportation Franchising and Regulatory Board (LTFRB) is set to meet with government financial institutions to discuss more flexible loan terms for jeepney operators participating in the Public Transport Modernization Program (PTMP).
LTFRB Chair Teofilo Guadiz III highlighted the need for collaboration with entities like the Land Bank of the Philippines and the Development Bank of the Philippines to address the financial difficulties faced by modernized jeepney operators.
The agency aims to explore options such as grace periods and loan restructuring to alleviate the burden on jeepney cooperatives and individual operators.
Guadiz emphasized the importance of preventing defaults among operators to avoid disruptions in public transportation and to safeguard the success of the modernization program.
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