The Competition and Consumer Commission of Singapore (CCCS) on Friday officially lifted restrictions on ride-hailing platform Grab, allowing the company to change pricing policies and driver commission rates.
According to a statement, the commission removed a requirement that was in place since the country introduced its “point-to-point (P2P) transport” regulatory framework on October 30, ensuring the transparency of P2P fares and allowing drivers to work for different operators.
With the change in regulation, the CCCS “will no longer issue a decision on the application.” Grab was the only ride-hailing company in Singapore who hasn’t applied a platform fee due to the restriction.
In a statement, Grab said that it will help them to move faster in introducing new services “in a timely manner”. However, considering the current economic situation, the company will not change its pricing structure and policies at least for the next six months.
Grab said it will roll out the platform fee “in the next few months”. The company plans to use the money to double down on safety measures such as driver training and insurance. One third of the sum will go to driver welfare support initiatives, such as scholarships.
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