A draft of the much-anticipated implementing rules and regulations (IRR) of the Philippine Competition Act is set to be released this week, which will help industries and businesses identify competitive practices that will promote fair market competition.
In a statement, the Philippine Competition Commission — which was formed by the PCA under Republic Act 10667 — said it will post the IRR this week on its website www.phcc.gov.ph which will also be shared in the agency’s Facebook and Twitter accounts.
To polish the draft IRR, the commission is arranging a series of consultations to business groups and other stakeholders, which are set in Manila, Cebu and Davao from May 16 to 24. The outcome of the consultations will be used to fine-tune the draft IRR.
The PCC said it is still in line with its schedule to release the final and approved version of the IRR in June, after which will be fully implemented to improve competitive practices in the market.
PCC Chairman Arsenio Balisacan said the public consultations will be a healthy exercise for ensuring sound implementation of the law and effective operation of the PCC, which will have jurisdiction over all industries in matters related to competition.
“On one hand, the consultations will help educate Filipinos on the provisions of the Philippine Competition Act, as well as on the vital role of the country’s newly created anti-trust authority – the PCC – in pursuing consumer protection and in opening various industries to more investments,” Balisacan said.
“On the other hand, the consultations will also help the PCC get valuable inputs from our stakeholders,” he added.
The PCA IRR is much awaited by industries and businesses, as this will be a standard guidebook in implementing fair market competition and penalizing those that adopt anti-trust and anti-competitive practices such as abuse of market dominance.
The PCC is a quasi-judicial body formed by the PCA, which is tasked to ensure an efficient market competition via leveling the playing field among businesses engaged in trade, industry, and all commercial economic activities; protect consumer welfare; and advance both domestic and international trade and economic development. Kristyn Nika M. Lazo