Press Release - Poe on PUV coop loans

The travails of our transport drivers and operators continue despite the implementation of the PUV modernization program.

No less than the Development Bank of the Philippines (DBP) acknowledged that several transport cooperatives who have consolidated to join the program have not been able to pay their loans for the modern vehicles they have purchased.

The DBP said it is also asking for higher equity and an approved route plan to ensure the venture will be profitable.

These are precisely among the key issues we raised together with 21 of our colleagues in the Senate when we sought the temporary halt of the program.

The jeepney units are too costly, the route plans are not yet final, the consolidation requirement has eased out hundreds of drivers and operators.

Transport coops falling behind in payment of their loans is a glaring symptom that we hope the Department of Transportation will consider in giving this program a second look.