Party-list Rep. Terry Ridon of Kabataan has dubbed House Bill (HB) 5286, or the Philippine Competition Act, which Congress is not deliberating on, “only serves to maintain already existing monopolies and anti-competitive mergers.”
He added that, “while HB 5286 states that it aims to ‘promote a national competition policy and prohibit anti-competitive agreement or conduct’ and other unfair trade and business processes, the current version of the consolidated bill essentially allows existing monopolies to continue operating.”
The lawmaker referred to the provision of Section 6 of HB 5286, which states that “nothing in this Act shall be construed or interpreted as a prohibition on maintaining a dominant position in a relevant market acquired prior to the approval of this Act, or on acquiring and maintaining thereafter a dominant position in a relevant market, without violating the provisions of this Act.”
“Instead of smashing monopolies, this provision ironically ensures that existing monopolies will continue holding dominant positions in their respective markets,” Ridon explained.
Ridon also pointed out that due to the confidentiality clause in HB 5286, competition litigation will also be subjected to “hush-hush proceedings.”
“Anti-competitive behavior and monopoly practices are concerns that are public in nature, subject to paramount public interest. We demand that all submissions and documents be made public for scrutiny and review,” he added.
“Moreover, all mergers undertaken already prior to the Act are deemed permissible mergers. Thus, even if these existing mergers are of the class of anti-competitive mergers, the law will consider these mergers as permissible mergers,” Ridon explained.
“It is thus a farce to even pass this piece of legislation when it is in fact saving the very monopolies that should be broken down,” he said.