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Manila Bulletin devider Philippines devider National devider After 3 years, LTFRB lifts moratorium on new TNCs

After 3 years, LTFRB lifts moratorium on new TNCs

Published Nov 20, 2021 01:33 pm

The Land Transportation Franchising and Regulatory Board (LTFRB) is accepting anew applications for new transport network companies (TNCs) to invite "healthy competition" among market players.

(FILE PHOTO / MANILA BULLETIN)

In its Memorandum Circular 2021-066, the LTFRB lifted the moratorium on the acceptance of application for accreditation as TNC to "give new entrants the opportunity to apply, thus, inviting healthy competition among the TNCs."

The LTFRB issued in 2018 the moratorium on accepting applications of new ride-sharing firms for accreditation to closely monitor the existing accredited TNCs already in the industry.

However, the regulatory body said only one TNC "overwhelmingly holds the highest number of accredited transport network vehicle services and taxis and has been dominating the market in terms of bookings and ridership."

The agency also cited a report from its pre-accreditation committee which showed that while only one TNC remains popular, the other firms "appeared to be no operationally capable to assume the responsibilities as TNC."

Under the memorandum, applicants need to submit a letter of intent, and proof of Filipino citizenship and financial capability to sustain the operation of TNC, along with other required documents.

A non-refundable accreditation fee of P30,000 should also be paid before filing the application, it added.

Upon approval, a certificate of accreditation will be issued to the TNC valid for two years.

The accredited TNCs will also undergo a periodic performance review by the pre-accreditation committee every six months from the date of accreditation.

Related Tags

moratorium Land Transporation Franchising and Regulatory Board (LTFRB) TNCs transport network vehicle service transport network companies TNVS
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