• THERESA MAE DULMAN
House deputy speaker and Bacolod Lone District Rep. Alfredo “Albee” Benitez is coordinating with state-run banks to explore a partnership to prevent the impending foreclosure of modernized jeepneys in the highly-urbanized city.
The initiative comes as several modernized jeepney corporations and cooperatives in Bacolod face the repossession of around 300 units due to delinquent loan repayments under the national government’s Public Utility Vehicle Modernization Program.
Benitez said he has already contacted the Landbank management, who assured him that they are currently studying options with regard this concern.
Under a proposed arrangement, state-run financial institutions would partner directly with transport operators, instead of enforcing standard monthly loan obligations.
The bank would collect a designated share of profits when the modernized jeepneys generate high earnings.
Land Transportation Franchising and Regulatory Board (LTFRB) chairman, Atty. Vigor Mendoza II, met with the transport sector in Bacolod Aug. 12, and assured them of assistance. | TMD
