Uber to resume operations soon, will pay P190-M fine

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REUTERS file photo.

MANILA – Uber said Saturday it hoped to resume its Philippine operations “as soon as possible” and will pay the hefty P190-million fine that regulators imposed in lieu of lifting the one-month suspension imposed last August 14.

In a text message to InterAksyon, Catherine Avelino, Uber head of communications for the Philippines, said: “We’re working hard to meet the conditions for the lifting of the suspension and hope to resume operations as soon as possible.”

Uber also said they will pay the P190-million fine, which was stipulated in a late-Friday order handed down by the Land Transportation Franchising and Regulatory Board (LTFRB).

The LTFRB order was in response to a petition by Uber asking for the suspension of the lifting – on the ground it would also hurt innocent parties like riders and the peer-operators and drivers – and offering to simply pay a fine of P10 million.

The LTFRB lifted the suspension, as prayed for, but jacked up the amount of the fine to P190 million, which will be remitted to the national treasury once Uber pays it.

The LTFRB also ordered Uber to proceed with its promised financial assistance (of P19 million daily) to the peer-operators, whom the agency said had been victims of Uber’s failure to apprise them of the regulatory risks it had been facing.

Uber’s estimated daily income in the country is P7 million to P10 million.
Globally, Uber’s market value is currently pegged at around $51-billion.