It is obvious that our country don’t have an anti trust law. So why create an anti-trust law in the first place? according to the news I’ve read in Philippine Star:
Senate President Juan Ponce Enrile pushed yesterday for the immediate passage of the proposed anti-trust law that aims to discipline the country’s market system by penalizing unfair trade and anti-competitive practices and thereby protect consumers from abuse.
In his sponsorship speech, Enrile said Senate Bill No. 3197 also known as “The Competition Act of 2009” would define and prohibit business cartels, monopolies, monopoly power or abuse of market power through price fixing and price discrimination, bid rigging, limitation and control of markets, agreement to limit and or control markets, and tie-in arrangements.
In as much that I wanted to say my opinion about this, I admit that I’m not very knowledgeable when it comes to the Philippine laws. Maybe this is good news to consumers and small time businessmen and not so good to those corporate giants. So, to read more about it, you can check it out here.
Posted by Manuel
Manuel Montala was an online entrepreneur who enjoys blogging about entrepreneurship and gathering information for his blog to help budding entrepreneurs. You can also reach him on twitter: http://twitter.com/mmontala
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