PBBM orders further study on jeepney modernization program

President Ferdinand "Bongbong" Marcos Jr. has requested a further study on the Public Transport Modernization Program (PTMP) to ease the burden on jeepney drivers and operators.

Department of Transportation Secretary Vince Dizon previously stated that the PTMP is not viable in its current form due to widespread loan defaults.

Marcos agrees with Dizon's assessment and expressed concern about making things difficult for drivers and operators if the program is pushed forward in its current state.

Presidential Communications Office Undersecretary Claire Castro emphasized the need for a thorough study to ensure smooth implementation of the program for all stakeholders.

Dizon also highlighted that drivers and operators need to be prepared for managing cooperatives as part of the program's issues.

Out of P15 billion in loans released by Landbank and DBP for modernization, over P5 billion remains unpaid, leading banks to halt further disbursements.

The cost of a modern jeepney ranges from P2.5 million to P2.8 million, with owners and cooperatives needing to cover approximately P2.3 million after a 15% government subsidy.