MANILA, Philippines — Senator Grace Poe called on the Land Transportation Franchising and Regulatory Board (LTFRB), Land Bank of the Philippines and the Development Bank of the Philippines (DBP) to reduce the interest rate on public utility vehicle (PUV) modernization loans to four percent from the current six percent.
“If we want to really help our public transport sector transition to PUV modernization, all support must be extended to our operators and drivers who have been among the hardest hit by the pandemic,” Poe, chairperson of the Senate public services committee, said in a statement Wednesday.
She said reducing the interest rate can lessen the financial burden of operato…
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