LTFRB imposes 19-day cap on TNVS surge pricing

The Land Transportation Franchising and Regulatory Board (LTFRB) has ordered a temporary reduction in surge pricing for transport network vehicle services (TNVS) or vehicles booked through ride-hailing apps. Based on Memorandum Circular No. 56 signed by LTFRB Chair Vigor Mendoza on Friday, surge pricing for the TNVS vehicles shall be not more than the sum