Bus and taxi fare rollback are expected this week by commuters in Metro Manila. This was announced by the Land Transportation Franchising and Regulatory Board (LTFRB) on Sunday.
Ariel Inton, LTFRB Board member said that they have finished the draft of the agency decision on bus and taxi fare rollback.
According to reports, Inton said that LTFRB will just need to hold a deliberation on Monday to determine the exact bus and taxi fare rollback.
Earlier, the Samahang Bus Operators ng Pilipinas (STOP) petitioned to lower the P12 minimum fare of air-conditioned buses to P11. It also proposed to cut P1 off the P10 fare of regular buses for the first four kilometers.
Added on interviews, Inton said that the Philippine National Taxi Operators Association agreed to permanently drop the flag down rate of taxis to P30 from the current P40.
It was also known that the LTFRB has implemented a P10 provisional rollback in the flag down rate of taxis.
However, the agency and taxi operators, have yet to agree on a proposal to raise the waiting time charge of taxis to P5 for every two minutes from the current P3.50. Taxi operators previously asked to increase the waiting time charge caused by suffering income loss due to heavy traffic in the metro.
Thus, the LTFRB may also approve a fare rollback for provincial buses and air-conditioned jeepneys this week.
Bus and taxi fare rollback was proposed followed a slide in the prices of petroleum products.