The Land Transportation Franchising and Regulatory Board (LTFRB) ordered transport network company (TNC) Grab to lower its surge rate "immediately" until a new player comes in.
"In the exigency of the service, the Board directs Grab to lower its surge from 2x to 1.5x while LTFRB is processing the new TNC players. This is to ensure that the fares will be at a rate that is conducive and acceptable to the number of transport network vehicles transferring to Grab," LTFRB Board Member Aileen Lizada said in a hearing in Quezon City.
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