The Manila North Tollways Corp. (MNTC), operator of the North Luzon Expressway (NLEX), said it would have difficulty achieving its P8-billion revenue goal for the year without a tariff adjustment.
“As far as the whole year is concerned, we’re pretty concerned about the tariff increases not being implemented up to now,” Metro Pacific Tollways Corp. (MPTC) president Ramoncito Fernandez told reporters.
“If the tariff [hike]is not implemented, we will have difficulty achieving the P8 billion revenue topline,” he added.
MNTC said that on a daily basis, the NLEX has an average traffic volume of “close to 180,000” vehicles, while the SCTex has some 28,000 and Cavitex has about 101,000.
According to its concession agreement, MNTC was supposed to hike its toll by 11 percent effective January last year. The concession allows for toll adjustments every two years.
At present, tolls at NLEX from Mindanao Avenue to Sta. Ines amount to P218 for Class 1 vehicles (cars, jeepneys, pickup trucks and vans), P544 for Class 2 vehicles (two-axle trucks, buses and vans), and P652 for Class 3 vehicles (trucks and trailers with three or more axles).
Earlier, MNTC said higher vehicle traffic boosted its revenue for the first half by 5.5 percent to P3.8 billion from P3.6 billion a year earlier, but it also cited the need for a road widening to decongest the expressway, particularly in key toll exits.
It said average daily traffic on NLEX reached 185,300 vehicles in the first half versus 173,200 vehicles in 2013.
Metro Pacific Tollways Corp. (MPTC) is the parent company of MNTC.
MPTC is a subsidiary of conglomerate Metro Pacific Investments Corp., which is led by tycoon Manuel Pangilinan.