Metro Manila (CNN Philippines, August 25) — The Land Transportation Franchising and Regulatory Board (LTFRB) has lifted the ban on the sale and transfer of public utility vehicle franchises to ease the distribution process of aid under the fuel subsidy program.
“Magiging madali na rin ang pagsali ng mga operator sa Public Utility Vehicle Modernization Program (PUVMP) dahil mabilis na maililipat at maiparerehistro ng mga ito ang kanilang sasakyan,” LTFRB said Thursday in a statement.
[Translate: It will also be easy for operators to join the Public Utility Vehicle Modernization Program (PUVMP) as they will be able to transfer and register their vehicles quickly.]
Under Memorandum Circular 2023-027, the Certificate of Public Convenience (CPC) can be transferred if it is “valid and subsisting at the time of the application” and appropriate fees are paid.
However, fractional transfer is prohibited. \”The transfer must cover all authorized units under the subject CPC,\” LTFRB said.
\”Only two (2) transfers shall be allowed during the validity of the CPC, provided that no transfer shall be allowed during the first year from the grant of CPC nor during the one (1) year prior to the expiration of the validity of the CPC,\” the memorandum circular further read.
In 2016, the LTFRB prohibited the sale and transfer of the CPC to prevent its commercialization, where operators who obtained a franchise sell their certificate at a large profit.
