Following instructions from Transport Secretary Arthur Tugade, the Land Transportation Franchising and Regulatory Board (LTFRB) decided to increase to 66,750 its common supply base for transport network vehicle services (TNVS) to ensure that there is enough cars to address the demand for ride-sharing services.
The LTFRB on Monday came up with a revised figure after it took into consideration such factors as the number of active and inactive TNVS over the last 90 days, cars operated in a fleet as well as the availability of peer operators.
From 45,000 cars in Metro Manila, the LTFRB raised the supply base to 65,000. They also increased to 1,500 its cap for TNVS in Metro Cebu from 500, and 250 in Pampanga province from 200.
LTFRB board member Atty. Aileen Lizada said the new supply base is enough to address 75 percent of bookings made through either Uber or Grab. Currently, the two transport network companies can only serve up to 60 percent of requested bookings.
The revised figure under LTFRB Memorandum Circular No. 2018-005 comes a month after the board drew up the common supply base.
The new figures are set to take effect by months end, in time for the reopening of the processing of TNVS applications on March 5.