MANILA – The Philippine Competition Commission (PCC) on Friday said it imposed a fine of P6.5 million on ride-hailing firm Grab for failing to submit correct and sufficient data needed for price monitoring.
The anti-trust body approved Grab's acquisition of its former rival Uber in August after it committed to ensure lower cancellation rates and justifiable surge pricing. It also agreed to subject itself to quarterly monitoring by a third-party trustee.
The fine was imposed on Jan. 22 after Grab submitted "deficient, inconsistent, and incorrect data" during the quarter of Aug. 10 to Nov. 10, chairman Arsenio Balisacan said.
"These commitments were designed to address the Commission’s concerns regarding Grab’s pricing behavior as well as its incentives to maintain service quality, in the absence of a significant competitive pressure in the market," Balisacan said.
"The commission cannot effectively enforce these commitments without the submission of correct, sufficient, consistent and timely data by Grab," he added.
Grab will file a motion for reconsideration on the penalty, its president Brian Cu said in statement.
Cu explained Grab was “working under very limited timelines” to meet the deadline given its huge volumes of data. With ample time, Grab will be able to “reconcile” its data structure with the monitoring trustee, he said.
“We assure our passengers that we are charging fares within the range as allowed by the Land Transportation Franchising and Regulatory Board (LTFRB),” Cu said.
In October, the anti-trust body slapped Grab and Uber with a P12 million and P4 million fine, respectively, for violating the agency's order to keep operations separate until their merger was approved.