Sen. Paolo Benigno “Bam” Aquino IV lauded Malacañang for including his two priority measures that will further help in the development of the micro, small and medium enterprises (MSMEs) in the country in its legislative agenda for 2015.
“We thank Malacañang for including the Cabotage law and the Fair Competition Act in its legislative agenda,” said Aquino, chairman of the Senate Committee on Trade, Commerce and Entrepreneurship.
With this, Aquino is expecting the swift passage of the two measures for small businesses.
“I see these bills as crucial to our economic growth, job generation and level playing field for all businesses,” Aquino said.
“These measures have been in the legislative pipeline for a long time. Finally, some political will is needed to get difficult reforms passed, which are propoor, probusiness and will lower cost of goods,” he added.
Passed by the Senate on third and final reading, Senate Bill (SB) 2282, or the Fair Competition Act of 2014, aims to shield small business owners and consumers from companies engaged in unfair business practices, which usually lead to increase in prices of basic goods and services.
Aquino said a fair-competition policy will level the playing field for Filipino businesses and allow more Filipinos to exercise their entrepreneurial spirit.
“The bill puts in place measures that will protect the welfare of businesses and protect honest, hard-working entrepreneurs against abuse of dominance and position, and other unfair practices that put both Filipino businesses and their consumers at risk,” Aquino said. If passed into law, the senator said Filipinos will enjoy a wider range of high-quality products and services at reasonable prices.
Aquino also filed SB 2364, which seeks to amend Section 1009 of Presidential Decree 1464, otherwise known as the Tariff and Customs Code of 1978, to lower local shipping cost in the country.
If enacted into law, foreign ships will be allowed to call in multiple ports provided that their cargoes are intended for import or export and duly cleared by the commissioner of Customs, leading to lower cost.
Jelly F. Musico / PNA