JMP meaning in General ?

The Public Utility Vehicle Modernization Program (PUVMP) was launched by the Department of Transportation of the Philippines in 2017, with the goal of making the country's public transportation system efficient and environmentally friendly by 2020. The program calls for the phasing-out jeepneys, buses and other Public Utility Vehicles (PUVs) that are at least 15 years old and replacing them with safer, more comfortable and more environmentally-friendly alternatives over the next three years. Currently, there are 220,000 jeepney units operating throughout the country.

Replacement vehicles are required to have at least a Euro 4-compliant engine or an electric engine to lessen pollution. Some proposed requirements include CCTV cameras, Panta Transportation Payment Terminal, speed limiters and GPS monitors.

The Land Bank of the Philippines estimates that each jeepney replacement will cost around ₱1.4 million to ₱1.6 million. However, based on an interest rate of 6% per annum and a payment period of 7 years, the actual cost of a jeepney reaches ₱2.1 million.

While reception among the general populace have been positive, some transport groups have criticized the program as it might lead to losses of jobs and businesses.