File photo.
MANILA, PHILIPPINES — The Manila North Tollways Corporation (MNTC) has already incurred a P5-billion loss in revenue due to the pending implementation of their petition for a toll hike at the Toll Regulatory Board (TRB).
The TRB approved a toll hike in 2012 but it was not followed.
The MNTC said they will offer a system to convince the board of implementing the toll hike.
“We would have to sit down with the regulator and come up with a scheme on how the operators like NLEX. Hindi lang naman kami ang nag file ng petition for adjustments (We were not only ones who filed a petition for adjustments) to find us a way for operators to be able to recover their investment via adjustment in toll,” said MNTC president, Rod Franco.
The MNTC had made big improvements to the North Luzon Expressway: roads were widened and paved with asphalt; another lane was added to the Bocaue Toll Plaza; and toll payments were integrated for a speedier collection process.
The MNTC had spent P218 million for the project. The fund was not taken from the revenue but rather an additional capital.
But the TRB said there are many factors to consider before they can allow the toll hike.
They must identify first the percentage of the return of investment of the operator; number of vehicles using the expressway and improvements made.
Based on the contract, TRB must publish the toll hike petition in newspapers to get the public’s reaction.
“Sa tingin namin, hindi pa namin na ipa-publish yung gusto nilang mangyari na rates eh marami na kami natatanggap na opposition, “said TRB consultant and spokesperson, Bert Suansing.
(The way we see it, we haven’t even published the rates they wanted but we are already receiving a number of oppositions.)
The MNTC has brought the case to the arbitration court and is still awaiting decision.
The board admitted that there is a breach of contract concerning rate increase by the operator that must be implemented yearly.
But the board is holding on to the 2010 decision of the Supreme Court which gives them the power to decide whether to implement an increase or not. — Mon Jocson | UNTV News and Rescue
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