LRMC president and CEO Juan Alfonso told reporters last week that the concessionaire is considering the option of asking for a new round of fare adjustment in LRT-1.
Alfonso said that although the Department of Transportation (DOTr) allowed LRMC to increase LRT-1 fares in 2023, it has yet to recover previous losses from denied rate hikes in prior years.
LRMC requested the fare hike for LRT-1 in 2022, but gained approval to implement it only last year. Prior to this, the DOTr denied proposed adjustments in 2016, 2018 and 2020 and this forced LRMC to file an arbitration case to ask for at least P2.67 billion in compensation.
This story is from the March 11, 2024 edition of The Philippine Star.
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This story is from the March 11, 2024 edition of The Philippine Star.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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