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THE Departments of Justice and of Energy on Monday
inked an amended
memorandum of agreement strengthening the powers of the
Task Force on Oil Deregulation to ensure that consumers are
protected against “predatory pricing” amidst the continuous
increase in fuel prices.
According to the three-page
agreement signed by Justice Secretary Raul Gonzalez and Energy
Secretary Angelo Reyes, the task force has the power to investigate
any threatened, imminent or actual cartelization or predatory
pricing, the commission of any violation under Section 12 of
Republic Act 8479 (Downstream Deregulation Act of 1988), or any
unreasonable rise in the price of a petroleum product.
Under the agreement, Gonzalez
said, the task force can request any proper court to issue a
restraining order or injunction pending the hearing of a criminal
complaint for cartelization and predatory pricing.
The task force was originally
created on March 12, 1998. Gonzalez explained that the 1998
agreement has to be amended, particularly the membership of the
Energy department, for the greater participation in the
deliberation of issues, and implementation of programs of action
adopted by the task force.
The Justice secretary added that
the previous task force had limited powers and that the granting of
authority to the new task force gave it more teeth to go after oil
hoarders and profiteers.
--William B. Depasupil
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