Arroyo announces P1-B fund for fuel efficient PUVs
Transport group focusing on conversion to LPG
By Abigail Kwok
INQUIRER.net
First Posted 15:10:00 06/16/2008
Filed Under:
Oil & Gas - Downstream activities,
Road Transport,
Transport
MANILA, Philippines – (UPDATE 3) The Land Transportation and Franchising Regulatory Board (LTFRB) launched Monday fuel efficient public utility vehicles that sought to save on fuel while increasing drivers' income.
During the 21st anniversary of the LTFRB, President Gloria Macapagal-Arroyo announced the release of the P1 billion fund from the “Katas ng VAT” for PUV drivers to enable them to convert their diesel engines to liquefied petroleum gas (LPG) or compressed natural gas engines.
At the same time, she acknowledged the high cost of converting engines.
“Ngayon abot sa P200,000 ang kailangan kung magpapalit ng makina. Aabot ng P70,000 kung bibili ng conversion kit at aabot sa P550,000 kung bibili ng bagong jeepney na gumagamit na ng
[COLOR=blue ! important][COLOR=blue ! important]alternative [COLOR=blue ! important]fuels[/COLOR][/COLOR][/COLOR]
.
Kaya tutulungan kayo ng pamahalaan [Now, the cost of changing engines can reach P200,000. A conversion kit can cost P70,000 and a new jeepney that uses alternative fuel can cost P550,000. So the administration will help you],” she said.
Those who would like to avail this benefit will just have to go to any Development Bank of the Philippines and Postal Bank to apply.
Arroyo added that drivers could pay without interest P80 a day for two years.
LTFRB chairman Thompson Lantion said the initial project would allow drivers to convert their engines to run on 70% diesel and 30% LPG. Arroyo said the target would be to convert the engines initially of 10,000 PUVs.
Lantion said that as of now, 20 jeepneys and 10,000 taxis were running on a mix of diesel and natural gas.
Riza Olchondria, Philippine Daily Inquirer