President Benigno Aquino has already signed the passing of the Philippine Competition Act and a liberalized Cabotage Law, but took the opportunity to hit back at his “staunchest critic”.
In his speech after signing the laws seek to promote competition in the local markets and industries, the President challenged his critic to prove that members of Congress were not doing their jobs.
Although, Aquino did not mention a name, he forked the challenge to his critic to whom observers refer to VP Jejomar Binay who has been vocally trading points to administration’s officials over the past weeks.
“Sige, maghanap ka ng pruweba na hindi talaga naglilingkod ang ating mga kinatawan sa parehong kapulungan,” Aquino said, shouting out to his “pinakamatinding kritiko.”
Binay earlier questioned the government’s actions and plans.
Aquino, however, thanked the senators and congressmen for working on the Compeition Act and on amendments to the Cabotage Law.
The newly signed Competition Act bans anti-competitive mergers, acquisitions and agreements which allow an entity to have a dominant position in an industry.
While the amendment to the Cabotage law features an act allowing foreign vessels to transport and co-load foreign cargoes for domestic transshipment and other purposes.
“Sa wakas, maliit man o malaki ang negosyo, ang labanan ay nasa paglalabas ng de-kalidad na produkto sa pinakamakatwirang presyo, imbes na under the table o ang paramihan ng kuneksiyon,” Aquino said.
The president also noted that the amendment will allow foreign ships to directly trade with their chosen ports of destination, resulting in lower costs for both businessmen and consumers.
H/T: Inquirer.net