Recto expects stable food prices as farm trucks get toll rebate
Finance Secretary Ralph Recto is expecting a more stable and affordable food prices as farm trucks will soon get rebates in recent toll hikes.
“This measure will prevent the second round effects of toll rate increases on food inflation and ensure that we keep food prices stable and affordable for our consumers,” Recto said in a statement on Thursday.
Last week, the Toll Regulatory Board along with the Department of Finance, the Department of Transportation, the Department of Agriculture, and toll roads concessionaires Metro Pacific Tollways Corp. (MPTC) and SMC Tollways officially launched the Agri-Trucks Toll RebateProgram.
Under the program, DA-accredited truckers shall receive rebates equivalent to toll hikes implemented from June 2023, starting June 1, 2024.
The rebate program will initially run for three months and be subject to review for possible extension, depending on the inflationary situation.
It is seen to benefit 200 to 300 farm product-carrying trucks traversing expressways in both north and south Luzon.
To avail of the toll rebate program, truckers must be accredited by the DA and have valid Autosweep and/or Easytrip RFID accounts.
Once enrolled and approved into the system, toll rebates will be credited to the truckers’ RFID accounts every Wednesday of the following week.
The toll rebate program covers users of North Luzon Expressway (NLEX), South Luzon Expressway (SLEX), Muntinlupa-Cavite Expressway (MCX), Subic-Clark Expressway (SCTEX), and Manila-Cavite Toll Expressway (CAVITEX). —VAL, GMA Integrated News
This article Recto expects stable food prices as farm trucks get toll rebate was originally published in GMA News Online.
- https://www.msn.com/en-ph/money/economy/recto-expects-stable-food-prices-as-farm-trucks-get-toll-rebate/ar-BB1niK3C
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