The Philippine government launched the Public Utility Vehicle Modernization Program (PUVMP) in 2017 as a move towards changing the landscape of public transportation in the country. Despite PUVMP’s objective to provide a comfortable, accessible, reliable, environment-friendly, and sustainable public transportation for every Filipino, several challenges impede the progress of its implementation. This paper examines the current state of public utility jeepney industry, recent developments in PUVMP implementation, and challenges in program implementation. Notwithstanding pending legislative reform measures such as House Bill Nos. 6136 and 4823, the study suggests that the right sequencing of activities and programs in the implementation of the PUVMP is very critical. For instance, the program could have started with regulatory reform, Local Public Transport Route Plan formulation and submission, and route rationalization first before embarking on fleet modernization. This would give stakeholders better appreciation of the program and additional grace period and more time for the operators and drivers to prepare.