FORMER economic planning secretary and chief of the Philippine Competition Commission (PCC) showed optimism yesterday that the incoming administration of presumptive President Rodrigo Duterte will continue the economic reforms that the outgoing government has started.
Former economic planning secretary Arsenio Balisacan, who is also the PCC chairman, said in an interview yesterday that the eight-point economic agenda of the Duterte administration is already a “reassurance” that they will continue what the outgoing Aquino government has started.
“The 8-point economic agenda that have been announced is a reassurance that the new administration will continue the things I have seen that are workable, that are working, that are beneficial, and improve on those that we have less progress (on). I am very pleased that it’s developing the way that we are seeing it now,” Balisacan said.
He said that the economic agenda of the new administration will work on how to further deepen the reforms especially those he considered difficult ones.
One of those reforms is the tax reforms which he said would require “a lot of political capital to get those reforms moving”.
He said he is also confident of tenure of commissioners, including himself, and he sees himself serving under the new administration even after the term of President Benigno Aquino III ends next month.
He said that they have fixed terms since “that is what the intent of the law that created the commission.”
Under The Philippine Competition Act or Republic Act 10667, the chairman of the PCC and his commissioners will have fixed terms of seven years and five years respectively. They can only be suspended or removed from office except for just cause as provided by law under Sec. 7 of the Act. It was signed into law on July 21, 2015 by President Aquino.
Balisacan resigned from his post as the director general of the National Economic Development Agency (NEDA) last January 31.
Other than Balisacan, the other appointed commissioners were Stella Alabastro-Quimbo, Johannes Bernabe, Elcid Butuyan, and Menardo Guevarra.
Balisacan and the other commissioners were in Cebu City yesterday for the kick off of their consultation on the draft implementing rules and regulation (IRR) for the Philippine Competition Act .