FRANCHISE CONSOLIDATION. Representatives of transport operators process their consolidation application at the Land Transportation Franchising and Regulatory Board (LTFRB)-Central Visayas field office in Cebu City on Sunday (Dec. 31, 2023). Many transport operators beat the Dec. 31, 2023 deadline, posting a 78 percent compliance as LTFRB-CV records showed. (Photo courtesy of LTFRB-7)
CEBU CITY – The Land Transportation Franchising and Regulatory Board (LTFRB) in Central Visayas on Monday reported a 78 percent consolidation rate since they began accepting applications until the deadline set on Dec. 31.
Eduardo Montealto Jr., regional director of LTFRB-7, said that as of the Dec. 31, 2023 cut-off imposed by the government, a total of 8,580 units of public utility vehicles have applied for consolidation into cooperatives or corporations since 2018.
“On behalf of LTFRB chairman Teofilo Guadiz III, I salute the operators and their representatives who showed up to our regional field office to file for their consolidation. I also commend the men and women of LTFRB-Central Visayas field office for being here at our office even on Saturdays, Sundays, and holidays just to make sure that those who will catch up with the deadline will be able to get it done,” Montealto told the Philippine News Agency.
The number represents the owners or operators of public utility jeepneys (PUJ) and Utility Vehicle (UV) Express who wanted to be part of either a transport cooperative or corporation.
Those who have consolidated into a cooperative need to register with the Cooperative Development Authority, aside from seeking accreditation with the Office of the Transport Cooperative of the Department of Transportation.
Meanwhile, operators who do not want to join a cooperative may also form themselves into a corporation registered with the Securities and Exchange Commission.
In October 2023, only 59.6 percent of the franchise holders applied for consolidation and the numbers picked up while the deadline drew near.
“Those who fail to meet the consolidation deadline will lose their franchise and privilege to ply their respective routes as there is no more extension given,” he said. (PNA)
