PCC asserts authority with completion of IRR

June 6, 2016 at 12:00

PCC asserts authority with completion of IRR

by Chino Leyco | June 3, 2016 (updated)

The Philippine Competition Commission (PCC) can now finally exercise its authority in ensuring that dominant industries players or monopolies will not become abusive in operating their businesses.

On Friday, the government has released the implementing rules and regulations (IRR) for the newly-established PCC, which will govern Republic Act 10667 signed by President Benigno S. Aquino in January.

PCC’s IRR was published in major dailies on Friday, making the law effective after 15 days or on June 18, 2016.

PCC is chaired by former Socio-Economic Planning Secretary Arsenio M. Balisacan.

Earlier, Balisacan said that PCC will be systemic and pragmatic in dealing with anti-competitive behaviors of local companies, adding they would not resort to an ad hoc approach in addressing issues on anti-completion tactics being employed by big corporations.

“One of the first tasks that we will have to do is the scoping study on various issues affecting competitions and of course sectors,” Balisacan said.

“I don’t want to be quite ad hoc in approaching the issue, we have to be more systematic, more pragmatic about what can be done and what can’t be done given the current state,” he added.

In particular, Balisacan admitted that there is a pressing concern on the behavior of companies engaged in telecommunications and power sectors.

He explained that strong public interest dictates PCC should prioritize the reviews on telecommunications companies and a power utility firm.

Last Monday, the Philippine Long Distance Telephone Co. (PLDT) and Globe Telecom bought into the telecommunications assets of San Miguel Corp., which Balisacan said will be subject to review.

“The commission has the power to examine transactions especially those which have impact on public interest and we take it from there,” Balisacan said. “We still have to see the details of the transaction until we can give the approval.”

PCC is a quasi-judicial body that will ensure an efficient market competition in providing a level-playing field among businesses engaged in trade, industry, and all commercial economic activities.

The PCC also aims to protect consumer welfare and advance both domestic, and international trade and economic development.

Also, it has the mandate to conduct inquiries, investigate, and penalize all forms of anti-competitive agreements, abuse of dominant position, and anti-competitive mergers and acquisitions.

Before his appointment to PCC, Balisacan, a former dean of the University of the Philippines School of Economics, served as President Benigno S. Aquno III’s Economic Planning Secretary and National Economic Development Authority (NEDA) Director-General from May 2012 to January this year.

Source: www.mb.com.ph

  All rights to the stock images are owned by Getty Images and its image partners and are protected by United States copyright laws, international treaty provisions and other applicable laws.
Getty Images and its image partners retain all rights and are available for purchase by visiting gettyimages website.

Arangkada Philippines: A Business Perspective — Move Twice As Fast | Joint Foreign Chambers of the Philippines