The Land Transportation Franchising and Regulatory Board in Central Visayas revealed on Thursday that it has recorded 78 percent consolidation rate in the region.

According to LTFRB-7 regional director Eduardo Montealto Jr., a total of 8,580 units of public utility vehicles have applied for consolidation into cooperatives or corporations since 2018 as of 31 December 2023.

"On behalf of LTFRB chairman Teofilo Guadiz III, I salute the operators and their representatives who showed up to our regional field office to file their consolidation," Montealto said.

"I also commend the men and women of LTFRB-Central Visayas field office for being here at our office even on Saturdays, Sundays and holidays just to make sure that those who will catch up with the deadline will be able to get it done," he added.

The 8,580 units represents the owners or operators of public utility jeepneys and Utility Vehicle Express who wanted to be part of either a transport cooperative or corporation.

Montealto said those who have consolidated into a cooperative need to register with the Cooperative Development Authority aside from seeking accreditation with the Office of the Transport Cooperative of the Department of Transportation.