The first chairman of the newly-created Philippine Competition Commission (PCC) Arsenio Balisacan took his oath of office before President Benigno Aquino 3rd on Wednesday.
Balisacan, 58, will serve as the chairman of PCC for a term of seven years.
Appointed as PCC commissioners were Stella Alabasteo-Quimbo, Johannes Bernabe, Elcid Butuyan and Menardo Guevarra.
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.
It also aims to protect consumer welfare and advance both domestic and international trade and economic development.
PCC 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.
Balisacan, a former dean of the University of the Philippines School of Economics, served as Socioeconomic Planning secretary and National Economic and Development Authority
(NEDA) director-general starting May 10, 2012.
He was the first chairman of the Philippine Statistics Authority Board and the Public-Private Partnership Center Board.
Concurrently, Balisacan was chairman of the board for the Philippine Institute of Development Studies, the Philippine Center for Economic Development and the Philippine Statistical Research and Training Institute.
Prior to his appointment to NEDA, he was the director of the Southeast Asian Regional Center for Graduate Study and Research in Agriculture or Searca from 2003 to 2009, and undersecretary of the Department of Agriculture in 2000, 2001 and 2003.
Balisacan has been an Academician of the National Academy of Science and Technology since 2008 and an adjunct professor at the Australian National University since 2011.