NLEX toll rates down in January

[OTO]

A good reason to be happy that the peso is stronger, cheaper tollrates. I wonder when SLEX will announce rollbacks.


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NLEX toll rates down in January

By DAVID CAGAHASTIAN and JC BELLO RUIZ

Toll rates at the North Luzon Expressway (NLEX) will be reduced by more than ten percent starting January 1, 2007 due to the strengthening of the peso against the US dollar, President Arroyo said yesterday.

"Effective New Year’s day, there will be a more than ten percent reduction in the toll rate in the North Luzon Expressway," Mrs. Arroyo said in a press conference.

Mrs. Arroyo said the Manila North Tollways Corporation (MNTC) operating the NLEX has proposed to reduce the toll rates following the appreciation of the peso against the dollar in recent months which allowed for easier terms in paying its dollar-based loans abroad.

"This is arrived at due to the good economic situation of our country because the loans of the corporation are dollar-based, so because of our good exchange rate, we can afford this and the private sector and their lenders have said that this can be done effective Jan. 1," Mrs. Arroyo said.

Department of Transportation and Communications (DOTC) Secretary and Toll Regulatory Board (TRB) Chairman Leandro Mendoza received yesterday the MNTC’s proposal to reduce toll rates at the NLEX by more than ten percent starting next year.

Mendoza said the proposal is "more or less final already," as the MNTC had apparently used the same computation as the government’s in making adjustments to toll rates to correspond to the fluctuating value of the peso against the dollar.

"It’s more or less final already because they follow the same computation. It’s just a matter of approving it or disapproving it. The TRB is going to approve this," Mendoza said.

If the proposal is approved, entry fees to the NLEX for Class 1 vehicles will be reduced from P40.42 to P37; for Class 2 vehicles from P106 to P93; and for Class 3 vehicles from P127 to P112.

The ten percent reduction on the toll rates at the NLEX would be implemented by January 1, 2007 and will be imposed for two years, after which the TRB and the MNTC may negotiate for another round of adjustments in the toll rates.

The Provincial Bus Operators Association of the Philippines (PBOAP) yesterday welcomed this news.

PBOAP president Homero Mercado said this would certainly help bus operators.

MNTC implemented a 300 percent increase in toll fees when it took over the operations of the NLEX in February last year.

http://www.mb.com.ph/MTNN2006092375238_print.html

[mazdamazda]

that's good news!

[boybi]

very good news indeed.

[batang_raon14]

Ayos! Mahigit 25 petot din matitipid ko round trip Balintawak to San Simon nito!

[squatt3r]

grabe naman sa January pa iimplement

[jonski]

ok to....eh ang SLEX kelan kaya? ang pangit ng daan compared sa NLEX kaya dapat magbaba sila ng rate.

[Gumusut_Amige]

bakit hihintayin pa na 2007?... kung biglang bumagsak nyan e di babawiin na naman.
Dapat nga pati yung ibang commodities... yung mga kumpanya na palaging nagsasabi na magtataas kami dahil malaki ang apekto sa peso Vs dollar exchange rate!

[claRkEnt]

ok to....eh ang SLEX kelan kaya? ang pangit ng daan compared sa NLEX kaya dapat magbaba sila ng rate.

Don't expect on that. definitely an increase is upcoming but not a reduction.