LTFRB Barrs Grab’s 2x Surge
The Land Transportation Franchising and Regulatory Board (LTFRB) ordered ride-hailing company Grab this week to cap its surge limit only to “times 1.5” instead of “times 2”.
According to LTFRB board member Aileen Lizada, the surge limit is to take effect immediately and will be held in place until new Transport Network Companies are able to operate.
The LTFRB says that they immediately issued the order after receiving numerous reports from Grab passengers complaining about the spike in fares after the company’s acquisition of Uber.
Grab spokesperson and policy head Leo Gonzales said that they respect the regulator’s decision to lower the surge cap. However, Grab Philippines head Brian Cu says that they have not changed their pricing policy since the LTFRB set the surge limit to “times 2” last December 2016.
Source: CNN Philippines