THE Consultative Committee (ConCom) tasked to review the 1987 Constitution has proposed the creation of a federal competition commission to guard against monopolies and cartels, a “prerequisite” to liberalize the economy under the proposed federal form of government. “The PCA, which is currently under the Executive department, will eventually evolve into a national competition authority, a constitutional body with more powers, once the country shifts to federalism,” said Ding Generoso, ConCom spokesman. “The competition authority shall have the mandate, functions national in scope. This means the federated regions cannot formulate their own competition policy or create their own competition authority,” he stressed. “We want to deliver a message to the investors that in the future what we are envisioning is an economy that will ensure that there is always a free market competition,” Aguilar said.

Source: Manila Times May 08, 2018 13:52 UTC