By Alon Calinao Dy: After 26 years of waiting, the Philippine Competition Act (Republic Act No. 10667), which penalizes monopolies, cartels, and unfair business practices, was signed by President Benigno S. Aquino III this morning. It will positively impact consumers in bringing down their daily expenses because of a free market.
As expected, prominent politicians, distinguished guests, and businessmen were present during the Ceremonial Signing of the Philippine Competition Act like Sen. Tito Sotto III and Sen. Cynthia Villar as co-authors, House Speaker Feliciano "Sonny" Belmonte, Senate President Franklin Drilon, Justice Secretary Leila de Lima, and other representatives.
"Businesses, whether big or small, will now be on equal footing as the law penalizes anti-competitive agreements and abuses of dominant players," stressed Sen. Bam Aquino, principal author of the Philippine Competition Act. I agree with his statement as I remember my seminary high school teacher, Nimfa Avila, who taught us well about the importance of fair trade among market players.
Aside from the Philippine Competition Act, President Aquino has also signed the Foreign Ships Co-Loading Act (Republic Act No. 10668) which will benefit a lot of consumers as well.
It is true that we already knew about monopolies, cartels, and unfair businesses as it was dominant over the past years before the passage of these new laws, but we couldn't do something to help ourselves. It's a good news that there's now the Philippine Competition Act. It's just so frustrating to realize that making a law or amendment to a law is a slow process in the country, but at least it's been done already.
This is another milestone under the Aquino administration especially that the State of the Nation address is coming. But of course, I'd like to congratulate the hardworking people behind the fulfillment of these new laws. I admit there are too many of them.
I know this is out of scope of a discussion, but another important aspect is to have a national ID system in the country in order to reduce crime, fraud, and corruption.
As we know, 2016 Philippine presidential election is near, I think holding a unique set of numbers on your ID at birth is helpful in determining the reports and complaints of ghost voters.
Once again congratulations to all those participants and those who made this plan a reality.
Source: Sen. Bam Aquino
By Alon Calinao Dy: The start of the year is not perfect for me. Apart from the various problems in the Philippines, I've got to think a lot about my internet connection. Both Smart and Globe are classified under “poor coverage and slow," and I have to ring customer agents several times a day, informing them a poor network connectivity.
I often have to go outside the house just to search for a signal. Last week, I still couldn't make a sufficient network signal even when I went outside of the house. I usually pay the Smart Communications around 600 to 1000 pesos per month, but I suffer a bad service experience. As what Senator Bam Aquino said, “we need more players in our markets, so that the quality of products and services increases, and prices of goods would then go down.”
When I was working in Saudi Arabia and Kuwait as a nurse, the speed of internet connection was very fast, and the price there and here was almost the same. I could download many online games and watch my favorite movies for a few hours, as a way to handle and relieve my boredom.
Good news, Senator Bam Aquino and his team pushed through the Philippine Competition Bill that will eliminate monopolies, cartels, and unfair business practices. This means that Filipino consumers have now the power to choose, and many big telecom companies are going to invest in the Philippines that would guarantee cheap and fast internet connection for the users.
Aside from potential foreign investors, this will continue to create more jobs for the Filipinos. In addition, this Philippine Competition Bill by the good senator, protects large and small businesses, especially our local farmers who work hard for their families. Under this proposed law, "if enacted into law, the measure will create a level playing field, whether big or small, when it comes to market opportunities,” Sen. Bam stressed.
“Panalo ang taumbayan dahil sa pagpasa ng panukalang ito,” Sen. Bam emphasized. This is absolutely true. It will surely benefit all consumers when this ratified bill is put into a new law. Expect a fair competition in the market and a high speed internet connection in the coming months.
Thanks to this #PHCompetitionAct campaign.
