Grab pledges stable fares as drivers get earnings boost

Grab, the ride-hailing service, has announced plans to maintain stable fares for drivers and riders while boosting their earnings. The company revealed that an agreement on a proposed minimum baseline rate for its partners has been reached, with the aim of increasing partner take-home earnings from 2027. This initiative, led by Grab, will ensure that passenger fares remain stable during implementation.

Prime Minister Anwar Ibrahim, who is also the Finance Minister, announced the joint funding of a RM160 million package between Putrajaya and Grab to increase the net income of e-hailing and p-hailing workers. This package includes raising the minimum income for approximately 600,000 workers, providing assistance with vehicle maintenance costs, and covering Perkeso contributions. Anwar stated that this would increase the net monthly income of e-hailing drivers by up to RM227 and p-hailing riders by up to RM100.

In addition to the income boost, Grab plans to introduce an interim safety incentive to address regulatory e-hailing insurance costs. This incentive, which could reduce costs by up to 25% for driver-partners with good safety scores, aims to ease financial pressures and promote responsible driving behaviour. The company will also cover 100% of Perkeso contributions for its most active e-hailing and p-hailing workers, while others will receive subsidies of up to 50%.

Furthermore, Grab will offer discounted rides to and from train stations to encourage the use of public transport and enhance first- and last-mile connectivity.