Since the start of its acrimonious tiff with the Land Transportation Franchising and Regulatory Board (LTFRB), the local office of ride-hailing firm Uber has paid a total of P494.24 million in total fines.
The figure is broken down in the following: P5 million for various accreditation violations, P190 million in lieu of the one-month suspension, and P299.24 million for the financial assistance to Uber driver-operators.
On Tuesday, Aug. 29, the LTFRB formally lifted its one-month suspension of Uber.
In a press conference, LTFRB board member and spokesperson Aileen Lizada said the agency has already received the P190-million fine and a certification from Uber’s bank Wells Fargo that it has provided financial assistance worth P299.24 million to its 36,367 transport network vehicle services (TNVS) operators nationwide affected during the suspension from August 15 to 29, 2017.
The fine collected from Uber will be remitted to the National Treasury, according to the LTFRB.
?Wherefore, in view of the submission of proof by Uber, the one month suspension on the accreditation dated August 14, 2017 is hereby lifted and set aside subject to further verification of actual receipt by the TNVS peer operators of the amount due to each of them,? Lizada said.
In its order dated August 25, LTFRB explained that the amount of the fine was based on Uber?s daily average earnings and the number of days it has been suspended.
According to LTFRB, Uber’s daily income ranges from P7 million to P10 million with a daily ridership of at least 150,000 trips. — Aerol John Pate?a, PNA
