(SPOT.ph) Commuters, you might want to think twice before booking that ride-sharing car today. On September 5, the Land Transportation Franchising and Regulatory Board approved the P2-per-minute fare component charge for all transport network vehicle services. The charge, which according to the memorandum circular takes effect 15 days after its publication in a local newspaper of general circulation, starts today, September 21.
In a Facebook post on September 20, Grab Philippines country head Brian Cu thanked the Land Transportation Franchising and Regulatory Board (LTFRB) for their approval of the P2-per-minute fare component, explaining that it will be beneficial for the income of their driver partners and will contribute to fairer passenger fares. Grab lobbied for the reinstatement of the charge, stating that the LTFRB's suspension of the P2-per-minute policy affected their drivers' incomes and caused them to drop out of the system.
According to a report by ABS-CBN News, Grab will temporarily be lowering its rush-hour surge pricing from 2.0x to 1.6x to help passengers adjust to the new P2-per-minute charge.