House tackles antitrust measures

Pending bills seeking to curb monopolies and unfair competition in business got a boost from various government agencies and business groups, which said that such measures were long overdue and needed in the light of the impending economic integration of countries in Southeast Asia by 2015. The House committees on economic affairs and trade and industry have begun deliberations on the various antitrust bills that have been filed in the 16th Congress, and there appears to be little resistance to the measures that are intended to encourage free and fair economic competition. The antitrust bills seek to prohibit the abuse of market-dominant positions and the excessive concentration of economic power by regulating unfair business practices and improper acts. These are intended to protect consumers and promote a balanced development of the economy. One of the authors of such a measure is Speaker Feliciano Belmonte, who earlier said he considered the bill a House priority. Belmonte, in his explanatory note to his bill, said the lack of genuine competition in certain industries impairs the public welfare and undermines the country’s credibility to provide a business climate that would entice investors. GDP growth A comprehensive competition policy would also help improve the growth of the gross domestic product (GDP), raise wages and cause prices to drop, he said. Such measures, though, had been unsuccessful in previous congresses, with trade and industry committee chair Rep. Mark Villar noting that these bills had been filed in various forms since the 8th Congress, but had failed to pass into law. Economic affairs committee chair Rep. Enrique Cojuangco, for his part, noted that the antitrust bills would help the Philippines cope with the coming Asean economic integration. ...