LTFRB restores Grab’s surge cap to 2x

The Land Transportation Franchising and Regulatory Board (LTFRB) lifted on Friday the order for Grab Philippines to lower its surge cap from 2x to 1.5x.

The LTFRB canceled the order with the accreditation on new transport network companies.

The LTFRB said it granted Grab’s motion to set aside the previous order on April 11, 2018 for the company to lower the maximum allowable price surge on its current fare of P10 to P14 per kilometer.

The surge cap was lowered to 1.5x from 2x, while the transport regulator was processing the application of new transport network companies.

“Considering that when the Board has accredited a new transport network company, the premise on the order moved to be vacated or set aside has become non-existent,” the LTFRB said.

On Wednesday, the LTFRB issued a certificate of accreditation to Hype Transport Systems Inc. as transport network company

LTFRB Board Member Aileen Lizada said the order will be implemented on Monday as relayed by Grab told the board.

“I got a word from Grab, Monday pa nila ibabalik,” Lizada said. —VDS, GMA News