The Land Transportation Franchising and Regulatory Board (LTFRB) is now open for applications for new transport network companies (TNC) to cultivate “healthy competition.”
“In uniformly applying the existing policies of the board, while giving the new entrants the opportunity to apply, thus, inviting healthy competition among the TNCs, the moratorium on the acceptance of application for accreditation as TNC is lifted,” LTFRB memorandum circular 2021-066 dated Nov. 12 detailed.
The LTFRB halted new applications in August 2018 to “closely monitor” existing TNCs.
The agency also said that since the suspension of new applications, only one TNC showed “dominance” in the market while others “appeared to be not operationally capable to assume the responsibilities as TNC.”
Under the memorandum is the list of the requirements interested applicants must complete as well as the need to show proof of Filipino citizenship and financial capability. Moreover, an accreditation fee of ₱30,000 is also required.
“Accredited TNCs shall be subject to a periodic performance review by the pre-accreditation committee every six months from the date of accreditation,” the LTFRB said. Ronald Espartinez