Govt caps Uber, Grab 'surge' rates | ABS-CBN
Welcome, Kapamilya! We use cookies to improve your browsing experience. Continuing to use this site means you agree to our use of cookies. Tell me more!
Govt caps Uber, Grab 'surge' rates
Govt caps Uber, Grab 'surge' rates
ABS-CBN News
Published Dec 27, 2016 02:58 PM PHT
The government on Tuesday ordered ride-hailing companies Uber and Grab to place a cap on their surge rates, after numerous complaints during the Christmas holidays.
The government on Tuesday ordered ride-hailing companies Uber and Grab to place a cap on their surge rates, after numerous complaints during the Christmas holidays.
The Land Transportation Franchising and Regulatory Board (LTFRB) ordered the two firms to bring down their "surge multiplier" to a maximum of two, after an en banc meeting.
The Land Transportation Franchising and Regulatory Board (LTFRB) ordered the two firms to bring down their "surge multiplier" to a maximum of two, after an en banc meeting.
Special En Banc Hearing of @LTFRB with @grabph and @Uber_PH officials about to begin. One of the topics expected to be discussed: Xmas Surge pic.twitter.com/6yjIZnxpG4
— TJ Manotoc (@tjmanotoc) December 27, 2016
Special En Banc Hearing of @LTFRB with @grabph and @Uber_PH officials about to begin. One of the topics expected to be discussed: Xmas Surge pic.twitter.com/6yjIZnxpG4
— TJ Manotoc (@tjmanotoc) December 27, 2016
The development came after the government agency warned the two firms following complaints after surge fares reached thousands of pesos.
The development came after the government agency warned the two firms following complaints after surge fares reached thousands of pesos.
Grab immediately said it would comply with the LTFRB's directive and would place a cap on its rates.
Grab immediately said it would comply with the LTFRB's directive and would place a cap on its rates.
ADVERTISEMENT
On Tuesday, it agreed to drop its multiplier max to 1.6 to 2.5 while Uber cut its competitive rate to 2.9 from 5.0. - With reports from TJ Manotoc
On Tuesday, it agreed to drop its multiplier max to 1.6 to 2.5 while Uber cut its competitive rate to 2.9 from 5.0. - With reports from TJ Manotoc
ADVERTISEMENT
ADVERTISEMENT
