Grab Philippines provides Drivers P25 million Assistance Fund following Rising Oil Prices

The popular transportation app, Grab Philippines, revealed that it will be handing out a performance-based assistance fund worth P25 million to support its fleet of drivers and couriers. The company announced a way to counteract the burden of growing oil and gas prices.

Currently, local pump prices rose to new heights as global crude oil prices surge past the $100 per-barrel mark due to the conflict between Russia and Ukraine.

“The economic challenges that we are experiencing require a longer-term solution from all sectors of our society. We are optimistic that through our efforts, we are inspiring more platforms, businesses, and organizations to step forward and take on this enormous task of advocating for their stakeholders during these challenging times,” said Ronald Roda, Grab Philippines senior director for strategy and operations.

Last Friday, Grab Philippines said that couriers and drivers will be able to access the conditional P25 million fund through performance-based incentives and other support programs. However, the company did not specify its goals, stating that it is “currently monitoring the situation on the ground and constantly tailoring it.”

The ride-hailing giant noted that the incentive program is not a dole out and will only benefit those who take to the road.

“It’s not like cake you slice evenly for everyone. You have to proportion to what is being done,” Grab Philippines said.

Although the company has not raised the price for its services, they have initiated discussions with regulators to work around the current situation.

The national public transport sector has also threatened to hold strikes if the government refuses to suspend the excise tax on fuel. In turn, the transportation department has released P2.5 billion worth of fuel subsidy which will amount to P6,500 for 377,433 beneficiaries. The subsidies’ beneficiaries will include jeepney, taxi, and UV Express drivers.

“Because of the rising costs of fuel, it may lead to people not bringing their own cars when they go out and possibly rely on public transport or ride-hailing – not so much in terms of them totally not going out. At the moment, we are doing our part to help in this challenge, but platforms cannot do this alone as well,” Grab Philippines added.

Grab Philippines also announced a zero-interest loan program for fuel purchases to its drivers and couriers. The firm has stated that couriers and drivers can avail one week’s worth of fuel through this loan program.

Source: Philstar