The franchise of most traditional jeepneys will expire on June 30, the Land Transportation Franchising and Regulatory Board said.
After extending four times the deadline for operators to form cooperatives for the purchase of modern jeepneys, the LTFRB said there will be no more extension this time.
“The CPC [Certificate of Public Conveyance] will be reverted to the state… It will be awarded [to those who have consolidated],” LTFRB Technical Division head Joel Bolano said.
The cooperatives are meant to help operators afford the purchase of modern jeeps worth at least P2.6 million each through loans from financial institutions.
Only operators who are in the process of transitioning into a cooperative or corporation will be allowed to ply their old jeepneys beyond June 30.
They have, however, until December to finish the consolidation process.
“We won’t allow a situation where our commuters won’t have any option for their transportation. The board will address that,” Bolano said.
