MANILA, Philippines - A senior administration lawmaker filed yesterday a petition with the Land Transportation Franchising and Regulatory Board (LTFRB) to reduce fares of public utility buses and taxis.
Negros Oriental Rep. Manuel Iway, a former LTFRB member, said prices of diesel have been going down and are expected to decline further over the next several months.
“It is the responsibility of the honorable board to reduce the minimum fares when prevailing conditions, such as decrease in world prices for oil, are present, in order to protect the interests of the low-income riding public,” Iway said.
In his petition, the P40 flagdown rate for taxis should be reduced to P30 while the P3 charge for every 300 meters traveled, and P3 for every two minutes of waiting, should be both reduced to P2.50.
He also sought a reduction in the fares of airport taxis, which charge higher fares than regular taxicabs.
For buses nationwide, Iway asked that the P10 fare for the first five kilometers be reduced to P8 while the P1.85 fare for every succeeding kilometer should go down to P1.50.
He said the last time fares for taxis and buses were adjusted was in 2011.