Photo Release

Trade and commerce hearing: Senator Juan Miguel “Migz” Zubiri, chairman of the Senate Committee on Trade, Commerce and Entrepreneurship, holds a hearing, Monday, March 12, 2018, to discuss a proposal to amend Republic Act No. 10667, or the Philippine Competition Act. The law requires companies to seek the approval of the Philippine Competition Commission (PCC) before entering into mergers and acquisitions worth P1 billion. This set-up, according to Zubiri, has resulted to delays and undue regulatory costs for the companies, and has overburdened the PCC docket with cases of mergers and acquisitions review. "We have to be able to correct this and what I propose is to increase the threshold of P1 billion to P10 billion," he said. (PRIB Photo by Romeo Bugante/AYA/12 March 2018)