(Eagle News) — The Land Transportation Franchising and Regulatory Board has granted Uber’s prayer for it to pay a P190-million fine in lieu of being placed under suspension.
In its order on Friday, the LTFRB said Uber’s “online ride-sharing services” will be restored “when it has paid the fine,” and the financial assistance to transport network vehicle service “peer-operators” is “remitted.”
The LTFRB pegged the amount for the financial assistance at P19,949,600 per day until Uber’s services are restored.
“This order takes effect immediately,” the LTFRB said.
Uber was given a 30-day suspension after the LTFRB said it openly defied a July order that said it should not accept additional applications for accreditation.
Uber appealed, asking that it be imposed a fine instead.
Earlier, Uber was already meted out a P5-million fine for committing violations that include the deployment of colorum vehicles.