Jeepney drivers object to high installment rate of PUJ modernization loan program

admin   •   May 4, 2017   •   10642

MANILA — Several jeepney drivers and operators complain of the high daily installment rate required of each driver or operator who want to apply in a loan program to be launched by the LTFRB and Land Bank of the Philippines.

The group Pasang Masda said they are for the government’s jeepney modernization program. However, Pasang Masda stressed they cannot afford the P800 daily installment by LTFRB and the bank.

“Palagay ko masyadong mataas yung 800 a day, wala nang matitira sa operator nun, siguro. Bakit di natin i-fix yung 400, that means 12,000 a month,” Pasang Masda president Obet Martin said. (I think 800 pesos a day is too much. Nothing will be left for the operator. Why not make it 400 pesos? That means 12,000 pesos a month.)

Isidro Carpio, also a jeepney driver said, “Mahina na ako mamasada, di ko kakayanin araw araw yung 500 nga hirap.” (I do not operate my jeepney that much anymore. I cannot pay daily. Even P500 is too much for me.)

Based on the agreement between the government and Landbank, all drivers and operators who wish to acquire a new jeepney unit may apply for a loan from 1.4 million to 1.6 million pesos.

The said amount must be paid completely within seven years, with a 6% interest rate.

The payment system is similar to the “boundary-hulog” scheme, wherein drivers are obliged to remit a certain amount as payment for the use of a jeepney unit.

Under the loan program, daily payment of P800 is made through Landbank’s cash deposit machine outlets.

“Yung Landbank ay mag-tatalaga, mag-oopen ng credit facility for affected PUJ operators for them to be able to get new units kung wala man silang sapat na kakayahang pinansyal,” LTFRB chairman Atty. martin Delgra III said.  (Landbank will designate, will open a credit facility for affected PUJ operators for them to be able to get new units if they do not have financial capacity.)

“Some drivers and the group Pasang Masda is in favor of the financing program. The latter appeals to lower the 800 peso daily payment,” Martin added.

As of now, LTFRB still cannot identify as to when this program will roll-out, because they still waiting for the finalization of the local public transport route plan that will be submitted by all of the local government units nationwide. — Joan Nano | UNTV News & Rescue

LTFRB mulls resuming operations of provincial buses from Metro Manila

Aileen Cerrudo   •   September 16, 2020

After six months of temporary suspension due to the coronavirus disease (COVID-19) pandemic, the Land Transportation Franchise and Regulatory Board (LTFRB) is now eyeing to resume operations of provincial buses from Metro Manila.

LTFRB Chairman Martin Delgra said they are continuously preparing and coordinating with several local governments on the possible return of provincial buses.

However, there are still provinces that continue to ban the entry of travelers from Metro Manila. Delgra said only Antique, Quirino, and Bataan agreed to open its doors to buses coming from Metro Manila.

“Whatever the case may be, we need to closely coordinate with the LGUs concerned because at the end of every trip it is the LGU that will receive and manage passengers in their respective jurisdictions,” he said.

Meanwhile, several local officials recommended a point-to-point scheme for provincial buses. The LTFRB reiterated they will also consider the areas along the route of the buses.

“They are suggesting na parang point to point po iyong pagbi-biyahe,” Delgra said.

Provincial bus operators have been appealing to the government to allow the resumption of their operations even if its on a limited capacity. AAC (with reports from Joan Nano)

Landbank offers P150,000 loan for private school students under i-STUDY program

Robie de Guzman   •   September 15, 2020

MANILA, Philippines – State-run Land Bank of the Philippines (Landbank) is offering loans up to P150,000 per student to families in need of financial assistance to continue sending their children to school amid the COVID-19 pandemic, the Department of Finance (DOF) said.

Landbank’s education program, dubbed as the Interim Students’ Loan for Tuition toward Upliftment of Education for the Development of the Youth (i-STUDY), will allow parents, guardians, or benefactors of students in private schools to borrow an amount equivalent to one school year or two semesters, the DOF said, citing a report by Landbank president and CEO Cecilia Borromeo to Finance Secretary Carlos Dominguez III.

“This program will not only help families who have kids they want to send to school, but will also assist private schools and downstream industries to sustain and continue their operations,” Borromeo said in a statement.

Loans under the i-STUDY program carries an affordable fixed interest rate of five percent per year.

Short-term loans payable within one year are available for pre-school, primary and secondary school students under the program, while term loans payable up to a maximum of three years, inclusive of a one-year grace period on the principal amount are available for tertiary level students.

Loans under the program cannot exceed P300,000 per eligible borrower, Borromeo said.

Landbank’s i-STUDY program was introduced “in response to President Duterte’s call to support students during this time of crisis,” according to Borromeo.

It also launched in May this year a lending program targeting private schools hit hard by the COVID-19 crisis.

An initial batch of over 60 private educational institutions have expressed interest in tapping the bank’s Access to Academic Development to Empower the Masses towards Endless Opportunities (ACADEME) lending program.

The program aims to extend credit to private high schools, private technical-vocational education training institutions, colleges and universities with the goal of encouraging students to enroll under a “study now, pay later” setup by allowing their parents to issue promissory notes for their academic fees.

These promissory notes will then be refinanced or rediscounted under the program, with schools allowed to borrow as much as 70 percent of the sub-promissory note per semester and subject.

However, schools can only borrow up to a certain maximum amount based on the net borrowing capacity of the institution.

Loans under the program carry an interest rate of three percent per annum and are payable based on the maturity of the sub-promissory notes but not to exceed three years.

The program is available until June 30, 2021.

Mas maraming pampasaherong jeep, papasada sa Metro Manila simula Agosto 26

Robie de Guzman   •   August 24, 2020

MANILA, Philippines – Higit 1,000 pang unit ng tradisyunal na public utility jeepneys (PUJ) ang pinayagan ng Land Transportation Franchising and Regulatory Board (LTFRB) na pumasada sa iba’t ibang bahagi ng Metro Manila.

Sa isang pahayag, sinabi ng LTFRB na ang hakbang ay bahagi ng plano ng Department of Transportation (DOTr) na gradual o unti-unting pagpapanumbalik sa operasyon ng mga pampublikong transportasyon upang maserbisyuhan ang mga pasaherong pumapasok na sa trabaho sa gitna ng banta ng novel coronavirus disease (COVID-19).

Ayon sa LTFRB, nasa 1,333 karagdagang traditional PUJs ang papasada sa 23 ruta sa Metro Manila simula sa Miyerkules, Agosto 26.

Batay sa Memorandum Circular 2020-040, maaaring bumiyahe ang mga nasabing jeep nang walang special permit pero kapalit nito ay ang QR code na ibibigay sa bawat operator bago pumasada.

Ang QR Code ay dapat naka-print sa short bond paper at naka-display sa PUJ unit. Maaari itong i-download QR Code mula sa website ng LTFRB simula Martes ng hapon, Agosto 25.

Kailangan ring naka-register sa Land Transportation Office (LTO) ang PUJ unit bilang roadworthy o akma sa pagbiyahe sa kalsada, at mayroong valid Personal Passenger Insurance Policy.

Kabilang din sa mga requirement para mag-operate ang traditional PUJs ay ang pagsunod sa safety measures alinsunod sa mga alintuntunin ng Inter-Agency Task Force for the Management of Emerging Infectious Diseases (IATF-MEID) tulad ng pagsuri sa body temperature, pagsusuot ng face mask/shield at gloves sa lahat ng oras, at ang pag-operate ng 50% maximum passenger capacity ng PUJ.

Batay sa datos ng LTFRB, umaabot na sa kabuuang 13,776 na traditional PUJ units ang pinayagang magbalik-pasada simula nang isailalim ang Metro Manila sa general community quarantine status.

Muli namang paalala ng ahensiya sa jeepney drivers at operators, walang taas-pasahe na ipatutupad maliban na ang kung inaprubahan ito ng LTFRB.

Sa ngayon, nasa P9.00 pa rin ang pasahe sa unang apat na kilometro at dagdag na P1.50 sa mga susunod na kilometro.

Muli ring nagpaalala ang ahensya hinggil sa pagpapatupad ng social distancing protocols at ang ‘no face mask, no face shield, no ride’ policy sa mga pampublikong sasakyan. – RRD (mula sa ulat ni Correspondent Joan Nano)

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