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Cartel, price-fixing fight gets boost as anti-trust law takes effect

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Carolyn Bonquin and Patrick Quintos, ABS-CBN News

<div class="embed-wrap"><figure data-feedback="fb:likes,fb:comments"><img src="http://sa.kapamilya.com/absnews/abscbnnews/media/2017/business/08/02/johannes-bernabe-and-stella-quimbo-2017-080217.jpg?ext=.jpg"/><figcaption>PCC Commissioners Johannes Bernabe and Stella Quimbo answers queries about the Philippine Competition Commission during a forum at Cage Adriatico in Malate, Manila Wednesday. Patrick Quintos, ABS-CBN News</figcaption></figure></div>MANILA - The Philippines&#x27; landmark anti-trust law takes full effect on Aug. 9, signalling the start of a crackdown on unfair trade practices such as cartels, monopolies and price, fixing, officials said.The government has monitored businesses that collude with each other to set prices unreasonably high, said Philippine Competition Commission (PCC) Commissioner Johannes Bernabe.Some dominant companies even collude with direct competitors to discourage new players from entering the market, he said.&quot;Minsan ginagawa nililimitahan nila &#x27;yung kanilang produksiyon para konti lang ang pupunta sa merkado... Ang nangyayari tumataas ang presyo,&quot; Bernabe said.(Sometimes, they limit production so that supply will be thin. Prices go up.)The biggest test so far to the Philippine Competition Act is last year&#x27;s P70-billion acquisition by rivals PLDT Inc and Globe Telecom of San Miguel Corp&#x27;s telecommunication business, effectively stalling the entry of a third player.PLDT and Globe resisted scrutiny by the PCC and a case is pending before the courts.<div>111 CASES</div>The PCC has reviewed 111 cases during the 2-year period before the law was to take full effect, said Commissioner Stella Quimbo.Out of the 111 cases, 92 were approved, 16 remained under review, while 3 were brought to the courts, she said.Bernabe said the PCC was reviewing a complaint filed by a former government official on alleged unfair business practices in the cement industry.He said the PCC was also reviewing a case referred by the Department of Energy in 2016 that might be a result of collusion.The acquisition of Japan Tobacco International of Mighty Corp and the alleged garlic cartel were also being investigated, the officials said.Violators of the law face closure or suspension and fines of P100 million for the first offense and P250 million for the second offense. Penalties could be as high as P300 million to P750 million for offenses involving basic commodities.

The Philippines' landmark anti-trust law takes full effect on Aug. 9, signalling the start of a crackdown on unfair trade practices such as cartels, monopolies and price, fixing, officials said.

The Philippines' landmark anti-trust law takes full effect on Aug. 9, signalling the start of a crackdown on unfair trade practices such as cartels, monopolies and price, fixing, officials said.

Cartel, price-fixing fight gets boost as anti-trust law takes effect

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Cartel, price-fixing fight gets boost as anti-trust law takes effect

Carolyn Bonquin and Patrick Quintos,

ABS-CBN News

Published Aug 02, 2017 04:23 PM PHT

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Updated Aug 02, 2017 04:56 PM PHT

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Philippine Competition Commission

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