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Once operational, the Metro Manila Subway will not only enhance comfort and speed but also generate approximately P2.5 billion in daily economic benefits, the Department of Finance (DOF) said.
In a briefing on Monday, Feb. 26, Finance Secretary Ralph G. Recto said the direct economic benefits, totaling P930.26 billion annually, will stem from decreased vehicle costs, shorter travel times, and reduced carbon emissions.
“The subway system alone will significantly mitigate economic losses caused by traffic congestion in the metro,” Recto said.
A recent study by the Japan International Cooperation Agency (JICA) revealed that the traffic congestion in Metro Manila alone is estimated to cost the Philippine economy at least P3.5 billion per day, totaling a substantial 1.27 trillion pesos annually.
JICA projects that without effective intervention, this cost will rise to P5.4 billion daily or P1.97 trillion per year by 2035.
“One thing is clear: business-as-usual is not an option. We refuse to let Filipinos squander their hard-earned money and valuable time because of traffic,” Recto said.
In the 2023 TomTom Traffic Index released last January, Metro Manila emerged as the metro area with the most severe traffic congestion last year.
According to transportation data, it now takes an average of 25 minutes and 30 seconds to travel 10 kilometers in Metro Manila, which is 50 seconds longer than the previous record.
Manila claimed the top position among 387 metro centers, surpassing cities like Lima, Peru; Bengaluru, India; Sapporo, Japan; and Bogota, Colombia.
The issue of traffic congestion impacts not only Filipinos but also visitors. During a recent concert at the Philippine Arena, Coldplay frontman Chris Martin playfully commented on the city’s traffic situation, humorously singing, “the traffic in Manila is completely insane.”
However, Recto assured that the government is “running full speed ahead on constructing the Metro Manila Subway and other infrastructure projects all over the country to break the chokehold of congestion.”
Expected to be operational by the end of 2029, the 33-kilometer subway project will have 17 stations running from Valenzuela City to Parañaque City, with a designated stop at the Ninoy Aquino International Airport (NAIA).
According to Recto, the Metro Manila Subway will reduce travel time from Valenzuela to NAIA from one hour and 30 minutes to just 35 minutes, benefiting 519,000 commuters on a daily basis. —Chino S. Leyco
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Credit belongs to: www.mb.com.ph
