Press Statement Re: Effectivity of the Public Service Act amendments
The Philippine Competition Commission (PCC) welcomes the recent signing into law of the amendments to the Public Service Act (PSA), which is a game-changing economic measure that will enable the country to gain new investment and market opportunities and boost our chances to recover better from the aftermath of the pandemic.
The PCC has long recognized the need for robust competition in sectors with significant impact on consumers. Since 2016, the PCC has expressed its support for reforms that encourage the entry of new players and increase the competitive pressure in our markets, ultimately benefitting consumers through lower prices, better quality, and wider variety of choices.
The enactment of these amendments, which encourage investments, promote job growth, and accelerate technology transfer, at this time and after more than 80 years, became more urgent as a post-pandemic response to hasten our economic recovery.
With the proper implementation of the PSA, opening up industries that were once heavily characterized by limited players and equity limitations will improve our public services and enhance the prospects for the Philippines to join the ranks of dynamic and prosperous economies in Asia.