HB 5099: Parking Fees Regulation Act pegs fee at Php40

A new House Bill, authored by Valenzuela City Rep. Sherwin Gatchalian, is being proposed to limit initial parking fees at only Php40USD 0.68INR 58EUR 0.65CNY 5 and regulates the rate of establishments with parking facilities.

House Bill 5099 or the Parking Fees Regulation Act seeks to prevent excessive charges by establishment for customers who bring and park their cars.

The bill proposes a number of restrictions as to how much the charges should be imposed on customers:

1) Free parking for the first 3 hours for customers who spend at P1,000 or more per visit.

2) Free for all customers who park for less than 30 minutes only.

3) Only Php40USD 0.68INR 58EUR 0.65CNY 5 for the first 8 hours and Php10USD 0.17INR 14EUR 0.16CNY 1 per succeeding hour.

4) Parking operators have accountability or liability in cases where parked cars are stolen, gets into an accident or have their properties stolen inside the car.

This should be good news to a lot of customers and motorists who pay exorbitant fees. One such case is the BGC area in The Fort where additional hours are charges Php50USD 0.85INR 72EUR 0.81CNY 6 per hour after the first 4 hours. Earlier last year The Fort Strip started to charge Php100USD 2INR 144EUR 2CNY 12 per hour after 5 hours.

{source: ANC News}