MNTC files bid for toll rate adjustment

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The Manila North Tollways Corp. (MNTC) has filed a petition with the Toll Regulatory Board (TRB) for the bi-annual adjustment of its toll rates in the North Luzon Expressway (NLEX) that will fall due on January 1, 2015, as stated in its concession.

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MNTC noted that the sought rate adjustment is in addition to the rate adjustment petitioned by the company in 2012 supposedly scheduled to have taken effect in January last year.

The current petition would bring the cumulative toll rate adjustment to 15 percent, of which 12 percent, according to the corporation, is long overdue.

While avowing that toll rate adjustments are long overdue, however, MNTC reported moderate earnings growth in the third quarter of this year as it posted a net income of P1.82 billion, up by 6 percent from the P1.71 billion net income posted during the same period last year.

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