MANILA, Philippines - Jaime Jacob has resigned as chairman of the Land Transportation Franchising and Regulatory Board (LTFRB).
“I confirm my resignation, but allow me not to make further comment anymore,†Jacob said in a text message to The STAR.
“Even as I have tried my best after almost two years in office, I have come to the conclusion that I cannot, under prevailing circumstances and by my standards, satisfactorily perform the functions as chairman of the LTFRB,†he said in his resignation letter dated March 18.
The Office of the President received Jacob’s resignation letter on Tuesday, said LTFRB spokesperson Jocelyn Reyes. Transportation and Communications Secretary Joseph Emilio Abaya was also furnished a copy of the letter.
Reyes said the resignation would be effective on March 31.
“Let’s wait for the Palace,†DOTC spokesman Jera Sison said in a text message to The STAR when asked to comment on Jacob’s resignation.
Jacob assumed office as LTFRB chair in September 2011 after Nelson Laluces resigned in August that year. A former congressman in the second district of Camarines Sur, he was also former commissioner of the Presidential Anti-Graft Commission and chairman of the Philippine National Railways.