Fix financing woes of drivers, operators first before pushing for PUV modernization, Escudero urges gov’t

Manila Bulletin

Senate President Francis “Chiz” Escudero renewed his call for the government to first resolve the concerns of transport groups regarding on financing before pushing for the Public Transport Modernization Program (PTMP).  READ: https://mb.com.ph/2025/3/24/fix-financing-woes-of-drivers-operators-first-before-pushing-for-puv-modernization-escudero-urges-gov-t  Subscribe to the Manila Bulletin Online channel! - https://www.youtube.com/TheManilaBulletin  Visit our website at http://mb.com.ph Facebook: https://www.facebook.com/manilabulletin  Twitter: https://www.twitter.com/manila_bulletin Instagram: https://instagram.com/manilabulletin Tiktok: https://www.tiktok.com/@manilabulletin  #ManilaBulletinOnline #ManilaBulletin #LatestNews

Transcript

00:00My position has not changed.

00:03My position has not changed.

00:05As long as the system is not yet perfected by the government,

00:09especially the aspect of financing,

00:12in addition to the PUJ and PUV modernization,

00:16this should not be required for everyone

00:19because they will not be able to afford the high and high price of a modern jeep,

00:24even if it is clean, at this time.

00:28Financing should be prioritized

00:31so that not only the driver, not only the operator,

00:35but especially the investor can afford it.

00:45Every year, funds are allocated,

00:47but in total, if I remember correctly,

00:50only P14 billion was allocated in total.

00:53The need to give a subsidy of P400,000,

00:59if I remember correctly,

01:01to each jeep operator and driver is P42 billion.

01:07So, we are still far from the money needed

01:10to properly distribute the subsidy

01:13that is needed for the current jeep owners.

01:18In our lifetime, will we be able to pay the PUJ?

01:21As long as the financing side is fixed.

01:24There is the land bank, there is the DBP,

01:26there is a lot of money.

01:27Why not use it to lend to them at concessional rates?

01:31Why not increase the process of lending?

01:36For now, this can be continued and done in the near future.

01:40It is not possible

01:42that the value of a modern jeep is less than P3 million

01:46and your subsidy is only P200,000 to P400,000.

01:50Where will the operator and driver get the payment?

01:53Especially since the LTFRB does not allow them

01:56to increase the subsidy

01:58depending on how much they will pay for the modern jeep.

02:02Even if the LTFRB has not yet approved

02:05the transport routes in the entire Philippines,

02:08how will we be able to compute

02:10the correct subsidy that should be given

02:12to those who will be able to pay back

02:14the modern, clean, and expensive jeeps that we bought?

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