Bill promoting fair competition hurdles House panel

House of Representatives building

House of Representatives. INQUIRER.net FILE PHOTO

MANILA, Philippines — A bill seeking to end monopolies and promote fair competition has hurdled the committee level in the House of Representatives.
The House committees on trade and industry and appropriations approved the consolidated bill for a Philippine fair competition.

It is also one of the priority bills of Congress.

The main author of the bill, Speaker Feliciano Belmonte Jr., said the bill seeks to encourage fair and free economic competition by prohibiting the abuse of market position as well as the concentration of economic power on select businesses.

He said the bill is timely for the Association of Southeast Asian Nations (Asean) Economic Community Blueprint which will be implemented in 2015.

The blueprint seeks to transform Asean into “a single market and production base, a highly competitive region of equitable and economic development, and a region fully integrated into the global economy.”

“As outlined in the AEC Blueprint, all Asean member states, including the Philippines, will endeavor to introduce competition policy by 2015,” Belmonte said.

The bill wants to create a Philippine Competition Commission under the Office of the President and implement the National Competition Policy.

The bill prohibits the following agreements among competitors:

The bill also prohibits all unfair methods of competition and unfair deceptive trade or business practice which results in restricting competition.

Among the prohibited acts are the following:

The bill imposes penalties on those who violate the proposed measure:

The bill also imposes a five to 10-year imprisonment per violation on those who enter into any anti-competitive agreement or conduct.

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