Grab says fare surge is only temporary with entry of 5 new TNVS | Inquirer News
Saturday, August 18, 2018
Close  
  • share this

Grab says fare surge is only temporary with entry of 5 new TNVS

By: - Reporter / @FMOrellanaINQ
/ 04:52 PM May 30, 2018

Grab assured the public on Wednesday that its fare surge is only temporary given the recent accreditation of five new transport network vehicle service (TNVS).

According to Grab, the additional TNVS in the country would lessen the demand and would later result to lower fare charges.

“We are of the view that any perceived increase in price is a not an exercise of any market power, but the result of demand and supply imbalance given the current shortage of available drivers and the regulatory constraint relating to the Transport Network Vehicle Service (TNVS) cap, which are outside of our control,” Grab said.

ADVERTISEMENT

“This situation is likely to be temporary, especially given the Land Transportation Franchising and Regulatory Board’s (LTFRB’s) accreditation of at least five new Transport Network Companies (TNCs) capitalizing on Uber’s exit,” Grab added.

During a hearing on Tuesday, the LTFRB said it was not aware of the P80 minimum fare of the company.

“Obviously not, in so far as the computation of the minimum fare is concerned,” LTFRB Chairman Martin Delgra III said during the hearing on the fare hike petition of Grab.

“Kaya po nalito kami doon sa minimum fare compared to the base fare and in relation to the other factors to determine the fare,” he added

 

READ: LTFRB unaware about Grab’s P80 minimum fare

Grab also maintained its ground that all of its fares were “legal and upfront.”

 

ADVERTISEMENT

READ: Grab PH says fares are legal, upfront

Don't miss out on the latest news and information.
View comments

Subscribe to INQUIRER PLUS to get access to The Philippine Daily Inquirer & other 70+ titles, share up to 5 gadgets, listen to the news, download as early as 4am & share articles on social media. Call 896 6000.

TAGS: fare surge, Grab, LTFRB, TNVS
For feedback, complaints, or inquiries, contact us.


© Copyright 1997-2018 INQUIRER.net | All Rights Reserved

We use cookies to ensure you get the best experience on our website. By continuing, you are agreeing to our use of cookies. To find out more, please click this link.