GRACE POE LAUDS SIGNING OF COMPETITION ACT, CALLS FOR EFFECTIVE IMPLEMENTATION

Senator Grace Poe lauded the signing of the Philippine Competition Act by President Benigno S. Aquino III, saying that, although some critics have labeled it as a watered down version, the new law is still a landmark legislation.

"That we finally have a competition law is welcome in itself. I hope it will afford consumers greater choices and fair prices, as well as help establish a level playing field for business that is consistent with international standards," she said.

However, Poe warned that the law is only as good as its implementation. "We have to guard against a situation where the spirit of the law is defeated by any preferential treatment or accommodation of certain groups or interests. For implementation to be effective, the government has to build in a system that allows the review and monitoring of the Philippine Competition Commission, which will enforce the law," the senator stressed.

Poe also called on the government to ensure cohesion of the competition law with other laws at all levels. "For example, the level of infrastructure and other forms of support to the rice industry varies across provinces. In LGUs where support is high, rice producers are more competitive. But what about the other areas? We have to ensure that access to resources and support are more or less equal across the country. Otherwise, open competition will just be an empty phrase, with small players being disadvantaged the most. An enabling environment is needed so that a level playing field for business will contribute to addressing inequality and giving people a fair chance," Poe said.