LTFRB hikes number of TNVS cars to 66,750 | Inquirer News

LTFRB hikes number of TNVS cars to 66,750

By: - Reporter / @jovicyeeINQ
/ 01:20 PM February 12, 2018

Uber. AP FILE PHOTO

The Land Transportation Franchising and Regulatory Board (LTFRB) has increased to 66,750 its common supply base for transport network vehicle services (TNVS) in a bid to ensure that there’s enough cars to address the demand for ride-sharing services.

A month after it drew up a common supply base for TNVS, the LTFRB on Monday came up with a revised figure after it took into consideration such factors as the number of active and inactive TNVS over the last 90 days, cars operated in a fleet as well as the availability of peer operators.

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From 45,000 cars in Metro Manila, the LTFRB raised the supply base to 65,000. The board also increased to 1,500 its cap for TNVS in Metro Cebu from 500, and 250 in Pampanga province from 200.

According to LTFRB board member Aileen Lizada, the new supply base is enough to address 75 percent of bookings made through either Uber or Grab. Currently, the two transport network companies can only serve up to 60 percent of requested bookings.

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The revised figure under LTFRB Memorandum Circular No. 2018-005 comes almost a month after the board drew up the common supply base. The board was forced to review its cap for TNVS as concerns grew that this may not be enough to address the demand for ride-sharing services, and in effect lead to higher fares.

It is set to be in effect by the end of the month, in time for the reopening of the processing of TNVS applications on March 5. /cbb

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TAGS: Aileen Lizada, Grab, LTFRB, News, TNVS, Uber
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