Government OKs subsidy for modern jeepney cooperatives

MANILA, Philippines — The government will subsidize the procurement of 162 modern jeepney units for 25 transport cooperatives across the country, the Land Transportation Franchising and Regulatory Board announced yesterday.

In a statement, the LTFRB said it has approved the applications of the cooperatives to acquire 162 modern jeepneys under the Expanded Equity Subsidy (EES), which is aimed at assisting small transport operators to acquire the vehicles.

“The EES allows the LTFRB, through the Department of Transportation, to partner with private and government financial institutions to help assist transport operators to avail of the loan packages for modern jeepneys,” the LTFRB said.

As part of the government’s public transport modernization program, LTFRB Chairman Vigor Mendoza II said the government is “committed to fast track all pending PTMP petitions to improve the quality of service in public transportation.”