Land Transportation Franchising and Regulatory Board (LTFRB) chairperson Teofilo Guadiz III over the weekend said there is no basis to implement fare hikes for public utility vehicles (PUVs) despite the ongoing PUV modernization program.

Guadiz stressed that the current jeepney fare will remain.

He pointed out that fare increases should undergo thorough study and multiple consultations with concerned agencies before it should be implemented.

Guadiz added that the petition for a fare increase must go through the process of the LTFRB Board. Several factors such as inflation and cost of fuel must be considered before the agency approves a new fare increase.

The current minimum fare for traditional jeepneys is still at P13 and P15 for modern jeepneys, Guadiz said.

He reiterated that once a transport group files a petition for a fare increase, the LTFRB Board shall conduct an assessment and study to determine its feasibility.