Consumers will soon be protected against shortchanging with the bicameral conference committee’s approval of the measure penalizing establishments that shortchange consumers, according to the bill’s primary sponsor Sen. Bam Aquino.

The bicameral conference committee recently consolidated the versions of both houses. After both houses ratify the bicameral conference committee report, the bill will be transmitted to Malacanang for President Aquino’s signature.

The measure, known as the No Shortchanging Act, aims to promote consumer protection and the continued professionalization of micro, small and medium enterprises (MSMEs).

“This measure will require that price tags reflect the exact price to remind customers to make sure they aren’t shortchanged,” said Sen. Bam, chairman of the Committee on Trade, Commerce and Entrepreneurship.

The measure prohibits the giving of insufficient or no change and the giving of change in any form other than money, such as candy or other items.

The bill penalizes first-time violators with a 500-peso fine while the second offense will warrant a three-month suspension of the establishment’s license to operate along with a fine of 15,000 pesos.

The third violation will result in the revocation of the establishment’s license to operate and a fine of 25,000 pesos.

In his sponsorship speech, Sen. Bam said the measure promotes a culture of weaving decency, integrity, and professionalism among Filipino entrepreneurs.

The senator emphasized that giving consumers what they are due, down to the last centavo, breeds a culture of precision and fairness that should permeate through all Filipino businesses.

“Naniniwala tayo na madadala at mapakikinabangan ng mga negosyanteng Pilipino ang kasanayang ito kapag lumaki at lumago ang kanilang negosyo,” Sen. Bam said.

If approved by President Aquino, this will be Sen. Bam’s 10th law for the 16th Congress.