DoTC Assistant Secretary for Planning and Development Roberto Castañares told reporters that the government now plans to take over MRT 3’s operations from developer Metro Rail Transit Corp. (MRTC) by the end of this year.

Castañares said that in the meantime, the government will explore means to raise its takeover capital rather than get it from the DoTC’s budget for this year.

Aside from the buy-out capital, the government also needs additional funds to pay for state arrears as well as the equity balance of the Sobrepeña-led MRTC.

The DoTC will only get P14.39 billion from the 2006 national budget as approved by the Department of Budget and Management (DBM).

The government expects to raise revenues from the rental of the MRT 3 which operates from North. Ave., Quezon City to Taft Ave. in Pasay.

While the takeover is pending, the DoTC will continue to subsidize the maintenance and other operating expenses of MRT 3 and pay part of its obligation to MRTC, which is P2.2 billion this year, DoTC Assistant Secretary Roberto Lastimoso said.

The EDSA-based railway system currently earns P135 million in monthly revenues and another P20 million monthly from development rights fees.

However, Lastimoso said the government shells out some P250 million monthly for maintenance fees.