The Land Transportation Franchising and Regulatory Board (LTFRB) has assured commuters that it will continue to monitor the fare matrix of transportation network companies (TNC), particularly Grab, following the announcement of Grab’s acquisition of Uber’s operations in Southeast Asia.
Atty. Aileen Lizada, LTFRB board member and former spokesperson, emphasized that Grab could not impose higher fares without the approval of the agency.
“Otherwise, we will cancel or suspend their accreditation,” Lizada said.
In addition to this, Lizada stressed that the Philippine Competition Commission (PCC) will be closely watching the aforementioned acquisition. As of writing, Grab and Uber representatives have yet to have a meeting with officials of the PCC. This is to ensure that the new entity will not result in a monopoly.
Since the LTFRB required TNCs to apply at the agency for accreditation as legitimate franchises, it has been pushing for a standardized fare structure. Currently, TNC fares depend on distance, traffic, and demand.
Meanwhile, three new companies are reportedly applying for accreditation.