The Land Transportation Franchising and Regulatory Board (LTFRB) will implement a “compensatory adjustment” in the pickup fares for Transport Network Vehicle ServiceThe Land Transportation Franchising and Regulatory Board (LTFRB) will implement a “compensatory adjustment” in the pickup fares for Transport Network Vehicle Service

LTFRB implements ‘compensatory adjustment’ in pickup fares following call from TNVS group

The Land Transportation Franchising and Regulatory Board (LTFRB) will implement a “compensatory adjustment” in the pickup fares for Transport Network Vehicle Service (TNVS) from Dec. 20 to Jan. 4, in response to the appeal of the TNVS Community Philippines (TCP).

The agency’s decision follows TCP’s strong stance against the planned reduction of the surge cap, especially during the peak holiday rush when traffic is expected to worsen and lengthen commuter travel times.

According to a TCP released by Spokesperson Lisza Redulla, they continuously engage in dialogue with regulators and TNCs to promote the welfare of drivers. The group has been active in coordinating with the LTFRB to maintain the implementation of the surge, particularly during the agency’s consultation last December.

Hindi maaring basta na lamang bawasan ang surge — lalo na sa holiday rush kung saan malala ang traffic na nagpapahaba ng biyahe ng bawat booking. (The surge cannot simply be reduced — especially during the holiday rush when traffic is severe, extending the travel time of every booking),” the TCP stated.

The compensatory adjustment in pickup fares has long been advocated by the group to balance the expenses of TNVS drivers and prevent them from incurring losses amid any surge cap reduction. The aim is to ensure drivers can continue providing service to the commuting public this Christmas season.

Nagpapasalamat tayo sa LTFRB sa pagdinig sa ating hinaing. Gayunpaman, hindi dito nagtatapos ang laban. Pagkatapos ng Kapaskuhan, haharapin pa rin natin ang hamon ng inflation at tumataas na operational costs sa pamamasada. Mananatiling nakatutok ang TCP sa pagsulong ng patas na kita at propesyonal na pamantayan sa ating industriya,” the statement said.


Spotlight is BusinessWorld’s sponsored section that allows advertisers to amplify their brand and connect with BusinessWorld’s audience by publishing their stories on the BusinessWorld Web site. For more information, send an email to online@bworldonline.com.

Join us on Viber at https://bit.ly/3hv6bLA to get more updates and subscribe to BusinessWorld’s titles and get exclusive content through www.bworld-x.com.

Market Opportunity
Outlanders Logo
Outlanders Price(LAND)
$0.0002388
$0.0002388$0.0002388
-4.13%
USD
Outlanders (LAND) Live Price Chart
Disclaimer: The articles reposted on this site are sourced from public platforms and are provided for informational purposes only. They do not necessarily reflect the views of MEXC. All rights remain with the original authors. If you believe any content infringes on third-party rights, please contact service@support.mexc.com for removal. MEXC makes no guarantees regarding the accuracy, completeness, or timeliness of the content and is not responsible for any actions taken based on the information provided. The content does not constitute financial, legal, or other professional advice, nor should it be considered a recommendation or endorsement by MEXC.

You May Also Like

Trump Reviews Candidates to Succeed Fed Chair Powell

Trump Reviews Candidates to Succeed Fed Chair Powell

The post Trump Reviews Candidates to Succeed Fed Chair Powell appeared on BitcoinEthereumNews.com. Key Points: Trump evaluates Fed Chair candidates, considering
Share
BitcoinEthereumNews2025/12/19 08:34
CME Group to launch options on XRP and SOL futures

CME Group to launch options on XRP and SOL futures

The post CME Group to launch options on XRP and SOL futures appeared on BitcoinEthereumNews.com. CME Group will offer options based on the derivative markets on Solana (SOL) and XRP. The new markets will open on October 13, after regulatory approval.  CME Group will expand its crypto products with options on the futures markets of Solana (SOL) and XRP. The futures market will start on October 13, after regulatory review and approval.  The options will allow the trading of MicroSol, XRP, and MicroXRP futures, with expiry dates available every business day, monthly, and quarterly. The new products will be added to the existing BTC and ETH options markets. ‘The launch of these options contracts builds on the significant growth and increasing liquidity we have seen across our suite of Solana and XRP futures,’ said Giovanni Vicioso, CME Group Global Head of Cryptocurrency Products. The options contracts will have two main sizes, tracking the futures contracts. The new market will be suitable for sophisticated institutional traders, as well as active individual traders. The addition of options markets singles out XRP and SOL as liquid enough to offer the potential to bet on a market direction.  The options on futures arrive a few months after the launch of SOL futures. Both SOL and XRP had peak volumes in August, though XRP activity has slowed down in September. XRP and SOL options to tap both institutions and active traders Crypto options are one of the indicators of market attitudes, with XRP and SOL receiving a new way to gauge sentiment. The contracts will be supported by the Cumberland team.  ‘As one of the biggest liquidity providers in the ecosystem, the Cumberland team is excited to support CME Group’s continued expansion of crypto offerings,’ said Roman Makarov, Head of Cumberland Options Trading at DRW. ‘The launch of options on Solana and XRP futures is the latest example of the…
Share
BitcoinEthereumNews2025/09/18 00:56
White House AI and Crypto Czar: CLARITY Act Markup Coming in January

White House AI and Crypto Czar: CLARITY Act Markup Coming in January

The White House AI and Crypto Czar has announced that markup procedures for the CLARITY Act will begin in January. This news marks significant progress in U.S. cryptocurrency regulatory framework legislation.
Share
MEXC NEWS2025/12/19 09:40