LTFRB allows Grab to restore 2x price surge cap

LTFRB Board Member Aileen Lizada, however, said Grab will be able to impose the 2x surge rate starting Monday. (PNA photo)

MANILA — The Land Transportation Franchising and Regulatory Board (LTFRB) has allowed ridesharing firm Grab Philippines to restore its price surge cap from 1.5 to 2 times the normal fare as it has approved several accreditations of new transportation network companies (TNCs).

On Friday, the LTFRB granted Grab’s motion to vacate which seeks to reverse its earlier order for the price surge cap to be lowered to 1.5x. The order was issued last April 11 as the Board processes the applications of new TNCs.

LTFRB Board Member Aileen Lizada, however, said Grab will be able to impose the 2x surge rate starting Monday.

The Board said that it granted Grab’s motion after it has issued a certificate of accreditation to Hype Transport Systems Inc. to operate as a new TNC for a period of two years on April 18.

“In view of the foregoing premises and finding the allegations contained in the Motion to Vacate Order to be meritorious, the same is hereby granted. Accordingly, the directive in the Order dated April 11, 2018 to lower the maximum allowable price surge is hereby vacated and set aside,” the LTFRB said.

LTFRB also granted the accreditations of ride-hailing companies Hirna Mobility Solutions Inc. and Go Lag Inc.