MANILA, Philippines — The Land Transportation Franchising and Regulatory Board (LTFRB) has moved the implementation of the surge pricing cap to December 20, three days later than the original date of December 17.
READ: LTFRB issues circular imposing cut, changes in surge pricing for TNVS
The adjustment was made at the request of ride-hailing companies. The firms recently expressed dismay over LTFRB Memorandum Circular No. 56, which adjusts and cuts surge pricing for Transport Network Vehicle Services (TNVS).
Transport Network Companies (TNCs) recently said many drivers will be heavily affected by the order and that they need more time “for proper consultation and cascading with our driver-partners.”
LTFRB chair Vigor Mendoza said in a statement on Wednesday that they understand the concerns raised by the TNCs, which led to adjustments to the implementation.
“We are also easy to talk to, especially if the reasons given are valid,” Mendoza said.