$5 billion fine urged for ride-hailing company GrabTaxi

Jericho Nograles, member of Philippines' lower house of parliament, said that Singapore-based ride-hailing firm GrabTaxi Holdings Pte. Ltd. must be fined 270 billion Philippine pesos ($5.2 billion) for charging an unauthorized PHP 2 per minute for millions of rides since 2017, Philstar.com reported. Mr. Nograles said that the penalty is separate from the PHP 3.2 billion that Grab needs to refund to customers. Grab admits to starting the travel-time rate on June 17, 2017, and stopped it following the Land Transportation Franchising and Regulatory Board's order on April 20.

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