‘TRANSPORT COOPERATIVES WALLOWING IN DEBT’

IN A RECENT public hearing of the House committee on transportation, it was discovered that 38 public utility jeepney cooperatives and corporations across the country defaulted on over P2-billion loans in two government-owned banks.

Running into financial trouble, they have been unable to pay loans they used to purchase modernized jeepneys (mini buses, actually). Ahay…

Of these 38 consolidated jeepney cooperatives / corporations, may ara ayhan

taga- Western Visayas?

It is clear that the Public Utility Vehicle Modernization Program of the government has a lot of room for improvement given the fact that lots of transport coops and corporations are now past due on their loans. Dapat may government subsidy sila.

Real talk lang… how can these transport coops and corporations pay their bank loans in the billions? Susmaryosep!

The members of these coops and corporations are not rich people but ordinary jeepney operators nga napilitan lang mag- consolidate, otherwise madula-an sila palangitan-an.

It is very likely that these financially problematic transport coops and corporations do not know how to run a cooperative or corporation. Dapat tani, before consolidation, may mga government-initiated trainings ini sila on financial/ business matters para indi sila mabangkarote.

Quite frankly, it is only a matter of time before more transport coops and corporations will default on their bank loans – all because the government rushed them to consolidate but without giving them the necessary knowledge and tools to thrive. Haslo!