Grab slapped with new fine, to refund PHP 14.5 million to passengers
PCC (Philippine Competition Commission) has recently imposed a new fine to ride-hailing firm Grab.
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| File photo: Grab logo |
New fine to Grab, refund to customers
The latest fine impost on Grab consists of PHP 14.15 million for its "extraordinary deviation" from its pricing commitment and PHP 2 million for exceeding driver cancellations or a total of PHP 16.5 million.
Out of the PHP 16.5 million, PHP 14.5 million will be refunded to its passengers.
The fine was based on the audit report of independent monitoring trustee Smith & Williamson who monitored Grab's pricing commitments until August 10, 2019.
For violating its pricing commitments to PCC, Grab was fined PHP 11.3 million in the first quarter; PHP 7.1 million in the second quarter; and PHP 5.05 million in the third quarter. Fines for the third and fourth quarters will be refunded to qualified Grab riders.
PCC said that passengers who availed of Grab’s service between May 11 to August 10 this year, or the 4th quarter of the initial undertaking, shall expect the rebate within 60 days through GrabPay credits.
Rappler reported that eligible riders would get a refund of less than a pesos up to about PHP 100 depending on the number of rides.
Grab said that the deviations were caused by the lack of transport network vehicle services to supply the growing demand of the riding public.
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