The Land Transportation Franchising and Regulatory Board (LTFRB) is looking at a new fare matrix for taxis that will allow them to compete with transportation network companies (TNCs).
“It will now be a per kilometer basis. And there will be an amount for running time, no longer waiting time,” lawyer Aileen Lizada, LTFRB spokesman, said.
“The fare will now be P40 plus the amount times the number of kilometers and amount times number of minutes. And for the running time, it is the amount times the number of minutes,” Lizada said.
The existing fare structure consists of a flag-down rate of P40, which covers the first 500 meters (m), and P3.50 for the succeeding 300 m. The current charge for waiting time is P3.50 for two minutes.
For the proposed fare adjustment, the P40-flagdown rate will stay but will exclude the P3.50 charge for the first 300m.
Lizada also said that there would be no price surge for the taxis unlike those for Grab and Uber.
Lizada said the decision on the taxi fare adjustment would be released by end of September.
“All taxi units’ meters must be calibrated and only after calibration shall the fare structure take effect,” Lizada said.