MANILA, Philippines - Economic Planning Secretary and National Economic and Development Director-General Arsenio Balisacan will be the head of the newly-formed Philippine Competition Commission (PCC).
Balisacan resigned from the NEDA effective on January 31 to head the quasi-judicial body that will enforce and implement the Philippine Competition Act.
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"Taking on the job as the first chairperson of the PCC for me, is a very compelling challenge that is hard to ignore. I see this as both a great responsibility and another privilege to steer the economy toward the right direction to realize all its growth potential," Balisacan said.
Republic Act 10667 or the Philippine Competition Act seeks to ensure efficient market competition by providing a level-playing field among businesses.
The commission is formed to protect consumer welfare and advance domestic and international trade, as well as economic development.
The PCC will also conduct inquiries and investigate all forms of anti-competitive agreements, abuse of dominant position and anti-competitive mergers and acquisitions, according to the NEDA.
"We would want to address the problem of having a growing economy but with the benefits of such growth only for a small sector. Promoting fair and healthy competition among firms is a major factor in ensuring that the benefits of growth are properly shared," Balisacan said.
Deputy Director-General Emmanuel Esguerra will serve as officer-in-charge of NEDA. - Patricia Lourdes Viray
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