LTFRB authorizes TNVS to charge Php2/min travel rate
Looks like the Land Transportation Franchising and Regulatory Board (LTFRB) is backpedaling on their initial sentence to Grab about travel rates. The board today, authorized transport network vehicle service (TNVS) providers to charge Php2/min travel rate to their passengers.
This is quite a shocking move as just two months ago the board themselves penalized Grab for charging Php2/min to their riders. This even included an order to reimburse the affected riders. The reason behind this change was to maintain the viability of TNVS providers. As stated by the order, after a thorough review of the current fare structure the board deemed it necessary to impose the new travel rate.