Grab fined an additional P16.5M
Credit to Author: THE MANILA TIMES| Date: Wed, 18 Dec 2019 02:58:07 +0000
Grab Philippines was slapped an additional P16.5-million fine for violating price and service quality commitments set by the Philippine Competition Commission (PCC).
The commission imposed a P14.15-million fine against the ride-hailing company for deviating from its pricing commitment during the May-August evaluation period.
The remaining P2 million was for recording driver cancellations at 7.6 percent, surpassing the 5-percent threshold.
Passengers who used Grab’s service during the said period will receive rebates through GrabPay credits within 60 days.
“The ride-hailing market has seen profound changes in the past year as a result of Grab’s acquisition of Uber. With the commitments in place, PCC aims to maintain pre-transaction market conditions and will discipline any tendency to exercise monopolistic power with corresponding penalties,” PCC Chairman Arsenio Balisacan said.
TYRONE C. PIAD