The regulatory land transportation dates back to the early 1900s. The LTFRB therefore, is a product of a series of transformations. The evolutionary progression runs as thus:
MISSION
Ensure that the commuting public has adequate, safe, convenient, environment-friendly and dependable public land transportation services at reasonable rates through the implementation of land-based transportation policies, programs, and projects responsive to an investment-led and demand-driven industry.
VISION
World-class land transportation services contributing to the over-all development of the country, improvement of the socio-economic status of its stakeholders, and promotion of the welfare of the general public.
MANDATE
To promulgate, administer, enforce, and monitor compliance of policies, laws, and regulations of public land transportation services.