LTFRB orders Grab to submit position paper on 'short trips'

LTFRB hearing on price surge

The Land Transportation Franchising and Regulatory Board (LTFRB) is giving Grab Philippines five days to submit information on the number of times that the company charged a minimum base fare of P85 for short trips.

KEY TAKEAWAYS

  • When is the Land Transportation Franchising and Regulatory Board's last day of hearing for the “surge” price issue on fares?

    The last day of hearing is today (January 12, 2023).
  • When will the LTFRB issue a decision on the matter?

    LTFRB Chairman Teofilo Guadiz III said that the Board will likely issue a decision in the first week of February.
  • LTFRB Chairman Teofilo Guadiz III said that today (January 12) was the last hearing on the issue and that the Board will soon decide on the matter.

    LTFRB hearing on price surge

    “There will be no more hearing on this issue. We have already asked them to submit their position paper and that’s when we will come up with a decision,” Guadiz said during the hearing on the “surge” price issue on fares.

    According to Guadiz, a decision regarding the issue is expected to come out by the first week of February.

    Grab logo

    The LTFRB noted that there is a need to set parameters and the setting of “surge” prices should not be dependent on one company alone or on the supply and demand.

    “What we intend to do now is to put up parameters that only one entity can set the pricing. While it is true that the party has the mechanism, it is still the government that exercises regulatory functions and defines when they can impose an increase. What we would like to establish is at what time can they impose an increase and in what areas they can make the increase,” he added.

    Photos from Land Transportation Franchising and Regulatory Board Facebook page, Grab

    Also read:

    Grab PH creates new bonus scheme to get more driver partners

    Grab PH urges LTFRB to open more TNVS slots

    LTFRB okays resumption of school transport services

    Read All

    Featured Articles

    Featured Cars

    • Upcoming

    Car Articles From Zigwheels

    • News
    • Article Feature
    • Advisory Stories
    • Road Test