Ride-hailing platform Grab’s imminent monopoly of the transport network vehicle service (TNVS) sector may be short-lived as the Land Transportation Franchise and Regulatory Board (LTFRB) announced on Wednesday the upcoming entry of three new ride-sharing applications—Go Lag, Owto and Hype.
LTFRB Board Member Atty. Aileen Lizada said three local ride-sharing companies Go Lag, Owto, and Hype were in the process of completing their accreditation before the agency.
“So if you say that there is no competition, soon there will be, and any competition is good for any industry because it benefits the riding public,” Lizada said in a press conference at Grab’s processing center at Mega Tent in Libis, Quezon City.
The announcement came days after Grab’s acquisition of Uber’s Southeast Asia operations, a move that secured the Singapore-based company’s dominance in the region’s TNVS industry.
Lizada also allayed concerns that the merger would result in higher fares as public utility vehicle operators have to first secure the LTFRB’s approval before increasing their fares.
“Grab on its own, just like any other public utility vehicle, cannot increase its fare on its own,” she said.
“We also have monitoring. We know ano yung range nila, and if there are complaints, we see them and read them sa Twitter as well as our Facebook account, LTFRB Citizen Enforcer, and @ltfrb for Twitter,” she added.
Lizada said that with the Grab-Uber merger, the LTFRB would “all the more” be strict in implementing transportation rules and regulations.
“We will not allow any infractions, any violations especially so with this merger. All the more that we will be strict in monitoring,” she said.
Lizada explained that before approving any petition for fare increases, the LTFRB conducts public hearings where the agency’s board members, including representatives from the National Economic and Development Administration, deliberate on the petition. /muf
READ: Grab confirms buying Uber businesses in Southeast Asia