'Economist tackles market plans under Duterte administration
A new independent quasi-judicial body addressed proposals on how the Philippine Competition Act (PCA) would authorize economic boost to become ‘more enduring and inclusive’ under the Duterte Administration.
Benjamin Padoc, Economic director of Philippine Competition Commission (PCC), explained the power of RA 10667, known as Philippine Competition Act, to review mergers and acquisitions having a direct, substantial and predictable effect on trade, industry or commerce in the country.
“We are not enemies of the firms, rather, what we do is to make the market environment conductive,” Padoc said in a forum last Nov. 28.
Furthermore, Padoc elaborated the powers of PCC such as investigations on market studies and competition advocacy.
“We will examine markets which may not be working well, with powers to impose remedies where an adverse effect on competition is found,” Padoc said.
“The PCC has also powers on promoting and encouraging competition-enhancing practices and challenging barriers to competition,” he added.
The economist also mentioned that PCA forbids competitors who are involved in the same stages of production or distribution and businesses involved in different stages of production or distributions.
“DU30NOMICS: An outlook on the economic plans of the Duterte administration” was hosted by the Artlets Economic Society held at the CME Auditorium, St. Martin De PorresBuilding, University of Santo Tomas and was participated by other universities around Metro Manila.###
