Press Release
July 9, 2015

Bam: Competition Commission needs People
with Integrity, Independence and Expertise

The Philippine Competition Commission (PCC) will only serve its purpose if persons with integrity, independence and expertise will be chosen to lead it, Sen. Bam Aquino stressed.

"The mandate of the Philippine Competition Act and the purpose of the PCC will only be fulfilled if we appoint the right people to lead the commission," said Sen. Bam, sponsor and main author of the Philippine Competition Act.

"These people must have the integrity, independence, expertise and the desire to push for the needs and welfare of consumers," added Sen. Bam, chairman of the Senate Committee on Trade, Commerce and Entrepreneurship.

The Philippine Competition Act is expected to be enacted into law by President Aquino before his State of the Nation Address (SONA) on July 27.

Once signed into law, the PCC will be established with the Chief Executive appointing a chairperson, four commissioners and an executive director.

As an independent quasi-judicial body, the PCC will look into anti-competitive behaviors, abuses in dominant positions, and anti-competitive mergers and acquisitions.

The PCC can also look at different industries and suggest reforms to make them more competitive and effectively address the needs of the market.

A maximum fine of P250 million can be imposed by the PCC to erring entities that prohibit, restrict and lessen competition in markets.

"Once the Philippine Competition Act is signed into law, the next step is to ensure that the right people are appointed to the PCC. Kailangan nating bantayan kung sinu-sino ang ilalagay para pamunuan ang komisyon," Sen. Bam said.

The Philippine Competition Act will lead to efficient market economy and a level playing field for all businesses, whether big or small, by penalizing anti-competitive agreements and abuses of dominant players.

In addition, the measure will promote a culture of healthy competition that inspires ingenuity, creativity, and innovation in addressing market needs.

Government agencies, such as the National Economic Development Authority (NEDA) and the Department of Justice, and private stakeholders like the Philippine Chamber of Commerce and Industry (PCCI) and the European Chamber of Commerce in the Philippines welcomed the approval of the measure.

"Execution is key. We need to ensure that we put the right people with no conflict of interest, the competency to run the Commission and provide industry analyses, and a genuine desire to reform and promote competition in our markets," the neophyte senator emphasized.

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