Callangan said, that to help the cooperatives, the government offered an equity subsidy of P260,000 per unit for government financing and P360,000 for private financing to those who are interested in taking a loan.
She also explained that aside from the objective of the government to make public transport aligned with global standards by providing Filipinos with a transport system that is safe, reliable, convenient, and environmentally sustainable, the modernization program will also benefit the individuals who are involved and dependent on the operation of the public transport vehicles.
"Since these are cooperatives, their drivers, conductors, and maintenance staff will have a fixed income," Callangan said.
She further explained that modernized vehicles are equipped with a global positioning system, allowing real-time tracking of the vehicle's movement on its route.
"We are genuinely progressing towards modernization, albeit gradually. Additionally, with this program, an automated fare collection system ensures swift fare transactions," Callangan added. (OTB/MJ/PIA Region 2)