The Land Transportation Franchising and Regulatory Board (LTFRB) announced the indefinite suspension of a fare increase for public utility jeepneys and buses.
The proposed fare adjustment is put on hold while awaiting an economic impact assessment by the National Economic and Development Authority (NEDA), according to the agency.
According to the Chairperson of LTFRB, Atty. Teofilo Guadiz III, any fare hike must weigh both sides: public transport operators on one side and the financial burden on commuters on the other.
According to the board, they will only disseminate updates once the economic study from NEDA is available.
Previously, the LTFRB said it was possible to enforce a ₱1 fare increase for jeepneys as soon as next week, linked to the spiralling fuel price. However, this is being put on hold for more detailed analysis.
