BALISACAN
The Philippine Competition Commission (PCC) will hold a public consultation here on the draft implementing rules and regulations (IRR) for Republic Act 10667, or the Philippine Competition Act of 2015.
PCC chairman Arsenio M. Balisacan said the consultation in Cebu will be held on Monday, May 16, at the Hotel Elizabeth along Archbishop Reyes Ave., Cebu City.
“We have invited representatives from various groups, including business, consumer groups, media and academe,” Balisacan said in a text message to Cebu Daily News.
In a statement posted on its website, the commission said the draft guidelines were released on Tuesday and have been posted on www. phcc.gov.ph.
The final IRR is expected to be posted on the website next month.
Public consultations on the draft rules will be held in Cebu, Davao and Manila between May 16 and 24.
All stakeholders and other interested parties may also submit their comments on the draft directly to the commission through email or by courier by May 25 at the latest.
Balisacan, former Socioeconomic Planning secretary, 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.
RA 10667 is a game-changing legislation against anti-competitive agreements, abuse of dominant position, and anti-competitive mergers and acquisitions.
It is aimed at promoting fair market competition, which is seen to help attract more investments and create more jobs.
The bill had languished in Congress for 24 years before it was enacted last year.