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Senate OKs Microfinancing Non Profits that Help the Poor

A measure strengthening non-government organizations (NGOs) that provide micro financing to the poor who want to start their own business has been passed by the Senate on third and final reading Monday.

 Principally sponsored by Senator Bam Aquino, Senate Bill No. 2752 or the Microfinance NGOs Act was approved by the Senate with around 100 beneficiaries from different parts of the country in attendance.

 “The approval was a victory for all microfinance NGOs, which, for decades now, have been helping the government’s poverty alleviation program without getting anything in return” said Sen. Bam, chairman of the Senate Committee on Trade, Commerce and Entrepreneurship.

 “The passage of this measure is recognition of their crucial role in lifting our fellow Filipinos from poverty and enabling the poor to build their own businesses and create their own sustainable livelihood,” he added.

 Sen. Bam hopes that the Microfinance NGOs Act will also encourage more institutions to help in the promotion of the development of micro businesses all over the country.

 Sen. Bam said microfinance NGOs provide low-interest, no collateral financing to those who want to start their own small business, luring them away from loan sharks or more commonly known as “5-6”.

 Microfinance NGOs offer a variety of loans – from business, housing, educational and medical – to low-income households with an average nominal interest rate of 2 to 2.5% and a usual loan cycle of 6 months.

 “Mabigat po talaga ang mangutang sa 5-6 dahil halos lahat ng kinikita mo sa araw-araw, doon napupunta. Sa MFI NGOs, magaan na hulog, mahaba pa ang palugit,” said Resureccion Aquino, owner of “Angels” figurines and ceramic display and a beneficiary of a P75,000 from Kasagana-ka Development Center, Inc. (KDCI).

 Aside from loans, microfinance NGOs also provide training programs and seminars to enhance the entrepreneurial skills and financial literacy of their borrowers.

 “Nakakuha na kami ng pautang, nabibigyan pa kami ng libreng insurance at mayroon pang training para sa dagdag na kaalaman,” said Rosana Santos, owner of J-Anmos Homemade Products and a recipient of a P50,000 loan from KDCI.

 The bill also provides microfinance NGOs needed support and incentives that includes access to government programs and projects, technical assistance and exemption from taxes.

 “With this Act, we will be able to reach more Filipinos in poor communities, enabling us to fulfill our mission as an institution – lifting the poor out of poverty and bringing our nation towards development,” said Dr. Aris Alip, founder and managing director of Center for Agriculture and Rural Development – Mutually Reinforcing Institutions (CARD-MRI).

 CARD-MRI is the biggest MFI NGO in the country, with around 1,780 branches in different parts of the Philippines.

 “The support that the bill accords to microfinance NGOs would ultimately benefit the enterprising poor in terms of greater affordability, accessibility, and variety of micro finance programs and services geared towards the expansion of their livelihoods and furthering their transformative contributions to community development,” the Microfinance Council of the Philippines said in a statement.

 With the House version of the measure already approved, a bicameral conference committee meeting will be held in the coming days to consolidate and finalize the provisions before it will be transmitted to Malacanang for President Aquino’s approval.

Bam: Mag-Resign na ang mga Tatakbo

“Tinatawagan natin ang mga tatakbo sa darating na eleksyon na magbitiw sa puwesto bilang mga opisyal ng Executive Departnent upang hindi maakusahang ginagamit ang kanilang posisyon sa pamumulitika, para hindi maantala ang trabaho ng mga ahensiya na kanilang pinamumunuan at maipagpatuloy ang pagbibigay ng serbisyo sa ating taumbayan.

Tularan nila ang naging hakbang ni Secretary Mar Roxas, na nag-anunsiyong magbibitiw na bilang kalihim ng Department of Interior and Local Government (DILG).”

Sen. Bam Committed to Supporting MSMEs in Zamboanga

Zamboanga City – Senator Bam Aquino visited Zamboanga City last Thursday to launch the 4th Negosyo Center in the region and the 73rd in the country.

“We’re proud to have this center up in Zamboanga City. Alam po natin na napakaganda ng potensyal dito,” said Sen. Bam, chairman of the Senate Committee on Trade, Commerce and Entrepreneurship.

Sen. Bam is the main author of Republic Act 10644, or the Go Negosyo Act, which mandates the creation of Negosyo Centers in all provinces, cities and municipalities in the country.

It is the Senator’s advocacy to achieve inclusive growth through enabling and empowering micro, small, and medium enterprises (MSMEs).

“For our MSMEs, it’s not about protection but about competition. It is about enabling them and giving them the support so they can compete in larger markets,” said the neophyte Senator, “How can they compete? They can compete kung meron silang puhunan, kaalaman, at access sa malalaking merkado.”

It is the objective of the newly inaugurated Negosyo Center, located at the DTI provincial office along Veteran’s Avenue, to provide access to bigger markets and financing for businesses while simplifying the business registration process.

As for the major challenge faced by Zamboanga’s entrepreneurs, the Senator hopes to work closely with the local government unit to look into the energy crisis.

“Kung walang kuryente, walang negosyo so I know how important it is,” he said, “We need to take a closer look at it. We will work with Mayor Beng Climaco and Chairman Chris Arnuco to figure out how to handle this better.”

Overall, Sen. Bam believes that spurring a thriving MSME sector is the key to spreading the economic surge the country is experiencing.

“We want to see our MSME succeed because if they are successful, they provide jobs, the local economy will grow, and we create value of our countrymen,” he said, “We’re hoping that through this center, we can provide tangible support to our MSMEs.”

2 out of 5 Legacy Laws from Neophyte Senator

In his first two years as legislator, Senator Bam Aquino worked on two of the five most important measures that were enacted into laws by the current administration.

Sen. Bam principally sponsored and co-authored the Philippine Competition Act, now known as Republic Act 10667, and principally sponsored the Foreign Ships Co-Loading Act or Republic Act 10668.

The twin measures were signed into laws by President Aquino. Moreover, the Chief Executive mentioned them as two of the five most important legislations passed by his administration during his sixth and last State of the Nation Address (SONA).

“Dahil sa Kongreso, naipasa ang mga batas na kikilalanin bilang haligi ng transpormasyong sinisimulan natin ngayon…salamat sa Philippine Competition Law…at sa pag-amyenda sa Cabotage Law,” the Chief Executive said.

Aside from the two, the President also cited the Sin Tax Reform Act, the Responsible Parenthood Act and the Act Allowing the Full Entry of Foreign Banks.

President Aquino described the measures as part of the administration’s campaign, “kung walang corrupt, walang mahirap.”

“Hinabol natin ang mga corrupt at nilinis ang sistema, na nanganak ng kumpiyansa sa ating mga merkado. Pumasok ang negosyo, lumawak ang oportunidad… nakikitang meron nang level playing field; naaasahan ang pag-asenso nang hindi kailangang mandaya,” the President said.

Senate President Franklin Drilon, for his part, said that the Philippine Competition Act would address the nation’s long-standing absence of a comprehensive competition law in effect during his speech on the opening of the 3rd regular session of the 16th Congress.

Drilon also noted that the Foreign Ships Co-Loading Act would widen the market and is expected to lower the cost of transport of agricultural goods and other local produces, which ultimately would affect prices of products sold to consumers.

Stakeholders, such as the Makati Business Club, Philippine Chamber of Commerce and Industry and the European Chamber of Commerce in the Philippines, also hailed the passage of the twin laws, saying these would boost the competitiveness of Philippine enterprises and help sustain economic growth.

Dean Tony La Vina, head of the Ateneo School of Government, believes that the Fair Competition Act is the “antidote to the adverse effects of monopolistic behemoths that make our economy less competitive vis-à-vis other Asean member countries.”

“It is a measure that will position us better in the forthcoming Asean economic integration. If well implemented, fair competition will certainly result in prosperity,” he said in his newspaper column.

Furthermore, National Economic and Development Authority (NEDA) head and Socioeconomic Planning Secretary Arsenio Balisacan said that the Philippine Competition Act would reinforce the country’s economy.

“As the bill levels the playing field among businesses, we can expect an increased level of confidence among the international business community, and thus lead to a surge of investments and economic activity, and an expanded logistical capacity,” Balisacan said.

Overall, Sen. Bam now has four laws to his credit. Last year, the President approved the Go Negosyo Act, which was principally authored and sponsored by Sen. Bam, and the Philippine Lemon Law.

The President is also expected to sign the Youth Entrepreneurship Act soon, making it five laws for Sen. Bam, the youngest senator in the 16th Congress.

Bam on PNoy’s Last SONA

“In his final SONA, we expect the President to lay down all the gains that the country has achieved under his administration.

Among them is his successful drive against graft and corruption that has boosted investors’ confidence in the country.

This renewed confidence has resulted in the unprecedented growth of the country’s economy, which is now the second strongest in Asia next to China.

The passage of important economic bills such as the Philippine Competition Act and the Foreign Ships Co-Loading Act are also worth mentioning, considering the positive impact that these laws may bring to our economy.

Worth discussing also are the reforms that we’ve put in place in our national budget systems, in education & social services, in infrastructure and in the culture of transparency & accountability of our public servants and institutions.

We also know that we cannot win the fight against poverty in six years.  Thus, we expect that the President will also lay down the much needed reforms that need to be done by the next administration.

With less than a year remaining in this administration, we are in the homestretch.

We need to work hand in hand to sustain the gains of this administration especially in our economy, the fight against graft and corruption, in the alleviation of our poor and in the realization of inclusive growth.

We have worked hard for these achievements in the past five years. We must not let these gains go down the drain.

Kumbaga sa basketball, last two minutes na. Time to go for the win!

 On the part of the Congress, we must pass crucial measures such as the Bangsamoro Basic Law, Sangguniang Kabataan Reform, amendments to the Corporation Code and Microfinance NGOs Act, among others.

These laws will help ensure that the momentum of these gains will continue beyond this administration.”

Four Laws in Two Years for Bam

Four laws in two years.

These were just some of the accomplishments of Sen. Bam Aquino, the youngest senator in the 16th Congress, during his first two years in office.

Included in the four laws authored, co-authored and principally sponsored by Sen. Bam is the landmark Philippine Competition Act or Republic Act 10667, which was passed under his watch as chairman of the Senate Committee on Trade, Commerce and Entrepreneurship, after it gathered dust in the legislative mill for almost 25 years.

Recently signed into law by President Aquino, the Philippine Competition Act will level playing field for all businesses by penalizing anti-competitive agreements and abuses of dominant players, aside from eliminating cartels that control supply and prices of goods in the market.

Aside from the Philippine Competition Act, the Foreign Ships Co-Loading Act was also signed into law by the Chief Executive.

The Foreign Ships Co-Loading Act or Republic Act 10668 will allow foreign ships carrying imported cargoes and cargoes to be exported out of the country to dock in multiple ports.

The law aims to reduce logistics costs for producers, create a more efficient import and export system, and lead to lower prices for consumers.  It will also help in decongesting the major ports in the country.

Last year, the Go Negosyo Act and the Philippine Lemon Law were signed into law by President Aquino.

Sen. Bam’s campaign promises of spurring jobs and enterprise development, levelling the playing field, and ease of dong business were further fulfilled with these macro economic reforms together with the establishment of Negosyo Centers all over the country through the Go Negosyo Act.

“Just as we promised, we have worked tirelessly for the passage of these measures that will create jobs and livelihood for fellow Filipinos and a better business climate for our micro, small and medium enterprises (MSMEs),” said Sen. Bam.

In addition, the President is also expected to sign the Youth Entrepreneurship Act soon.

The Youth Entrepreneurship Act, co-authored and principally sponsored by Sen. Bam, is touted to be an effective tool to solve the growing number of jobless youths in the country, which currently stands at 1.32 million.

The enactment of this into law will make Sen. Bam’s portfolio of laws to five in two years.

“Hindi mahalaga ang edad, kung bagito ka man o beterano sa posisyon natin. Ang mahalaga, kailangang nagtatrabaho tayo para sa kapakanan ng sambayanan na siyang naglagay sa atin sa trabahong ito,” added Sen. Bam.

Moreover, the Responsive, Empowered, Service-Centric Youth Act, which aims to institutionalize youth participation in disaster risk and reduction planning, was passed on third reading.

He was also able to file a committee report on the Mircofinance NGOs Act, which aims to empower the sector that provides microfinancing services to micro businesses.

Aside from his legislative work, Sen. Bam also initiated an investigation into the country’s expensive and slow Internet connection.

The investigation has produced several victories that will help improve the country’s Internet service. It encouraged telecommunication companies to embrace IP peering with the Department of Science and Technology (DOST) while the Department of Justice (DOJ) has released guidelines against deceptive or misleading Internet print, TV and radio advertisements.

The National Telecommunications Commission (NTC), for its part, is also expected to craft a memorandum circular that will set the quality of standards for all telecommunication companies to follow, be it broadband or DSL.

Sen. Bam also looked into the port congestion that hounded the Port of Manila early this year. After several hearings, port operations went back to normal, with utilization rate now between 70 to 80 percent.

Lastly, Sen. Bam worked together with the Department of Trade and Industry (DTI), local governments, the academe, business clubs and other private groups in the establishment of Negosyo Centers that will assist small businesses.

Through the Go Negosyo Act, the Negosyo Centers aim to provide ease of doing business, access to business training & education, development services and financing for the growth of MSMEs.

As of this month, 61 Negosyo Centers have been established and 50 more are expected to be put up by the end of the year.

Bida Ka!: Ulat sa mga Bida

Mga Bida, noong unang araw ng Hulyo ay nakadalawang taon na tayo sa Senado. Sa panahong ito, dumaan tayo sa maraming hamon at pagsubok habang ginagampa­nan ang tungkuling ibinigay ninyo sa akin bilang isang mambabatas.

Pumasok tayo sa Senado sa panahong batbat ito ng kontrobersiya, tulad ng pork barrel scam ni Janet Lim Napoles. Sa unang taon natin, bagsak ang Senado sa mata ng taumbayan dahil sa kontrobersiya sa PDAF at iba pang isyu ng katiwalian.

Sa kabila nito, hindi tayo nawalan ng pag-asa na muling babalik ang tiwala ng taumbayan sa aming mga mambabatas basta’t tuluy-tuloy lang ang ating pagtatrabaho para sa kapa­kanan ng mas nakararaming Pilipino.

Kaya itinuon natin ang pansin sa pagtupad sa mga pangako natin noong kampanya na trabaho, negosyo at edukasyon. Ipinursige natin ang pagpasa sa ilang mahahalagang batas na makatutulong upang ito’y maging katuparan.

Ngayong papasok na tayo sa ikatlong taon sa ating termino, nais nating ibahagi sa inyo, mga Bida, ang ating nagawa noong huling dalawang taon sa Senado.

Apat na batas kung saan tayo ang may-akda, co-author o ‘di kaya’y principal sponsor ang naisabatas sa loob ng dalawang taon.

***

Noong nakaraang taon, naisabatas ang Go Negosyo Act kung saan itinatakda ang paglalagay ng Negosyo Center sa lahat ng munisipalidad, siyudad at lalawigan sa buong Pilipinas.

Sa Go Negosyo Act, nabigyang katuparan ang ating pa­ngako na tututukan natin ang paglikha ng trabaho at pangkabuhayan, pagpapalago ng maliliit na negosyo at pagsasaayos ng mga sistemang magpapadali sa pagnenegosyo.

Inaprubahan din ng Pangulo ang Philippine Lemon Law, na nagbibigay proteksyon sa mga bumibili laban sa mga depektibong kotse.

***

Ngayong taon, nais nating ibalita na napirmahan na ng Pangulo ang Philippine Competition Act, ang batas na magbibigay ng pantay na pagkakataong lumago sa lahat ng negosyo sa bansa.

Parurusahan nito ang anumang anti-competitive agreements at pang-aabuso ng malalaking kumpanya, at buburahin ang mga kartel na kumokontrol sa supply at presyo ng bilihin sa merkado.

Lubos kong ipinagmamalaki ang nasabing batas dahil naipasa ito sa ating panahon bilang chairman ng Senate Committee on Trade, Commerce and Entrepreneurship matapos mabimbin ng 25 taon sa Kongreso.

Naaprubahan na rin ng Pangulo ang Foreign Ships Co-Loading Act, kung saan papayagan na ang mga dayuhang barko na may dalang imported cargo o ‘di kaya’y cargo na nakatakdang ipadala sa ibang bansa, na dumaong sa iba’t ibang pantalan sa Pilipinas.

Sa batas na ito, bababa ang gastos sa pagpapadala, mas magiging maayos ang sistema ng import at export ng bansa at bababa ang presyo ng mga bilihin. Makatutulong din ang batas para paluwagin ang malalaking pantalan sa bansa.

Maliban sa dalawang batas na ito, naghihintay na lang ng pirma ng Pangulo ang Youth Entrepreneurship Act, na magandang sandata upang labanan ang lumalaking bilang ng kabataang walang trabaho sa bansa, na nasa 1.32 milyong kabataan.

Nakalusot na rin sa ikatlong pagbasa ang Responsive, Empowered, Service-Centric Youth Act, na layong patibayin ang partisipasyon ng mga kabataan sa pagpaplano sa mga sakuna at trahedyang dumarating sa ating bansa.

Nakapaghain na rin tayo ng committee report sa Microfinance NGOs Act, na layong palakasin ang sektor na nagbibi­gay ng mga pautang at iba pang tulong sa mga negosyo para sa maliliit na negosyante.

***

Hindi lang paggawa ng batas ang ating tinutukan noong nakaraang taon kundi ang pag-iimbestiga sa ilang mahaha­lagang isyu, tulad ng mabagal at mahal na Internet sa bansa.

Sa isang taon nating pag-iimbestiga, nahikayat natin ang mga telcos na tanggapin ang IP peering ng Department of Science and Technology (DOST). Naglabas na rin ang Department of Justice (DOJ) ng panuntunan laban sa mapanlinlang na Internet print, TV at radio advertisements.

Anumang araw mula ngayon, ilalabas na rin ng National Telecommunications Commission (NTC) ang memorandum circular na magtatakda sa kalidad ng standards na susundin ng lahat ng telcos, maging broadband o DSL.

Inimbestigahan din natin ang pagsisikip sa pantalan ng Maynila sa pagsisimula ng taon. Matapos ang ilang pagdinig, nanumbalik na sa normal ang operasyon nila.

Panghuli, nakipagtulungan din tayo sa Department of Trade and Industry (DTI), mga lokal na pamahalaan, eskuwelahan, mga business clubs at iba pang pribadong grupo para itayo ang mga Negosyo Centers na tutulong sa maliliit na negosyante.

Ayon sa batas nating Go Negosyo Act, papada­liin ng mga Negosyo Centers ang pakikipagtran­saksyon sa pamahalaan ng mga negosyo, magbibigay ito ng kaukulang abiso, training at serbisyo para lalo pang mapalago ang ating mga pinapangarap na k­abuhayan.

Mayroon na tayong naitayong 61 Negosyo Centers sa buong bansa pagkatapos ng kalahating taon at magbubukas pa ng mahigit 50 sa pagtatapos ng taon.

Mga Bida, patuloy kaming nagpapasalamat sa walang-sawang suporta ninyo sa aming opisina. Sa kabila ng mga naabot natin sa ikalawang taon, hindi pa rin tayo titigil sa pagtatrabaho upang lalo pang mapaangat ang kalagayan ng ating mga kababayan at ng buong bansa!

 

First Published on Abante Online

 

 

P-Noy Thanks ‘Kuya Bam’ for PH Competition Law

President Benigno Aquino III thanked Sen. Bam Aquino for his efforts to pass two crucial legislative measures that will further sustain the country’s economic growth and boost the government’s inclusive growth agenda.

In his speech, the Chief Executive lauded Sen. Aquino, whom he playfully referred to as “Kuya Bam”,  for working for the passage of the Philippine Competition Law and the Foreign Ships Co-Loading Act, now known as Republic Act 10667 and 10668, respectively.

The measures were signed by the Chief Executive during a ceremony at Malacanang Palace today (July 21).

“Partikular po nating pinasasalamatan, unahin ko na po, pasensiya na po kayo, ‘yung kuya ko si Bam Aquino, at ang marami pang ibang sponsor at may-akda ng dalawang batas na ito,” President Aquino said in his speech.

The President said the Philippine Competition Act, which took almost 25 years to pass into law, would help sustain the country’s ever-growing economy and ensure a climate that provides a level-playing field for all businesses.

“Sa pamamagitan ng dalawang panukalang batas na pinagtibay natin sa araw na ito, tinatanggal natin ang mga baluktot na kalakarang dulot ng kawalan ng kumpetisyon, na walang nadadalang pakinabang sa ating mamamayan,” said the Chief Executive.

The President also stressed the importance of the Foreign Ships Co-Loading Act, saying that it will lead to lower prices of logistics and lower prices of goods for consumers

“Sa mga amyenda po ninyo, malayang makakapagkalakal ang mga banyagang barko ng kanilang imported at exported na kargamento sa kanilang napiling port of destination. Dahil dito, mapapadali at mapapamura ang export at import ng mga produkto, na magbubunsod ng mas masiglang merkado,” he said.

“Sa pinagtibay nating Philippine Competition Act at Liberalization of Philippine Cabotage, ang pagbabagong tinatamasa natin ngayon ay magpapatuloy hanggang sa mga susunod pang henerasyon,” the Chief Executive stressed.

The Philippine Competition Act levels the playing field for all businesses by penalizing anti-competitive agreements and abuses of dominant players, aside from eliminating cartels.

Under the law, a Philippine Competition Commission (PCC) will be established with the Chief Executive appointing a chairperson, four commissioners and an executive director.

As an independent quasi-judicial body, the PCC will look into anti-competitive behaviors, abuses in dominant positions, and anti-competitive mergers and acquisitions.

The Foreign Ships Co-Loading Act allows foreign ships carrying imported cargoes and cargoes to be exported out of the country to dock in multiple ports.

With the approval of these two measures, Sen. Bam now has four laws to his credit. Last year, the President approved the Go Negosyo Act and the Philippine Lemon Law.

P-Noy to Sign Landmark PH Competition Act and Amendments to Cabotage Policy into Laws

Two important, historic, game-changing bills to continue pushing the country’s progress and inclusive economic growth will be signed into laws by the President tomorrow.

In a ceremonial signing in the Malacanang Palace tomorrow, July 21, Tuesday, at 10 am, President Aquino will approve the landmark Philippine Competition Act, giving the country its own law that will level playing field for all businesses by penalizing anti-competitive agreements and abuses of dominant players.

The Chief Executive is also expected to sign into law the Foreign Ships Co-Loading Act, which will now allow foreign ships carrying imported cargoes and cargoes to be exported out of the country to dock in multiple ports.

The Philippine Competition Act is considered the longest-running measure in Congress, taking 25 years before hurdling the legislative mill.

“The Philippine Competition Act will usher in a new era of doing business in the country,” said Sen. Bam, co-author and principal sponsor of the measure.

Under the law, a Philippine Competition Commission (PCC) will be established with the Chief Executive appointing a chairperson, four commissioners and an executive director.

“Businesses, whether big or small, will now be on equal footing as the law penalizes anti-competitive agreements and abuses of dominant players,” stressed Sen. Bam, adding that cartels will also be eliminated under the law.

As an independent quasi-judicial body, the PCC will look into anti-competitive behaviors, abuses in dominant positions, and anti-competitive mergers and acquisitions.

“This will lead to an efficient market economy and a level playing field for all businesses,” added Sen. Bam, chairman of the Senate Committee on Trade, Commerce and Entrepreneurship.

The PCC can impose administrative penalties of a maximum fine of P100 million on the first offense and P250 million for the second offense for anti-competitive agreements and abuses of dominant position.

Moreover, courts can impose criminal penalties of imprisonment from two to seven years and a maximum penalty of P250 million for anti-competitive agreements done between and among competitors.  The imprisonment will be imposed to responsible officers and directors of the entity.

Aside from the Philippine Competition Act, the Chief Executive will also sign into law the Foreign Ships Co-Loading Act, another measure sponsored by Sen. Bam.

The Foreign Ships Co-Loading Act will reduce logistics costs for producers, create a more efficient import and export system, and lead to lower prices for consumers.  The law will also help in decongesting the major ports in the country.

With the approval of his two measures, Sen. Bam will have four laws to his credit. Last year, the President approved the Go Negosyo Act and the Philippine Lemon Law.

In addition, the President is also expected to sign the Youth Entrepreneurship Act soon.

The Youth Entrepreneurship Act, co-authored and principally sponsored by Sen. Bam, is touted to be an effective tool to solve the growing number of jobless youths in the country, which currently stands at 1.32 million.

Financial literacy and entrepreneurship courses will now be included in all levels of education to build an entrepreneurship culture among Filipinos.  A youth entrepreneurship fund shall also be made available to cater to youth entrepreneurs in the country.

Sen. Bam’s campaign promises of spurring jobs and enterprise development, levelling the playing field, and ease of dong business were further fulfilled with these macro economic reforms together with the establishment of Negosyo Centers all over the country through the Go Negosyo Act.

Bam to Consumers: Be Vigilant against Fake, Tainted Products

Senator Bam Aquino has called on consumers to be more vigilant on what they purchase, with the reported entry of fake rice and noodles and tainted candies in the market.

“Consumers have to be always on guard on what they buy, now that fake and tainted products have made it to the market,” said Sen. Bam, chairman of the Senate Committee on Trade, Commerce and Entrepreneurship.

“Mahalagang malaman at mabantayan kung ligtas ba o hindi ang ating binibiling produkto dahil buhay at kalusugan natin ang nakataya,” added Sen. Bam.

Sen. Bam made the pronouncement amid reports of fake rice and noodles reportedly being sold in Davao City. At the same time, around 2,000 people suffered food poisoning after consuming tainted durian candies in the Caraga region.

“We call on our small businesses to ensure that our products are safe and fit for consumption for the welfare of our consumers,” Sen. Bam, a staunch advocate of the growth of micro, small and medium enterprises (MSMEs) in the country, stressed.

Earlier, Sen. Bam has filed a measure seeking to amend the 23-year-old Consumer Act of the Philippines to give it more teeth and make it more effective in protecting the welfare of consumers.

“In order to build stronger commercial systems and maintain thriving markets, there is a need to bolster the rights of consumers and we need to do this at the soonest possible time,” Sen. Bam said in his Senate Bill No. 2699.

If enacted into law, the Department of Trade and Industry (DTI) will be authorized to close down any establishment caught in the act of selling, distributing, manufacturing, producing, displaying or importing hazardous products.

In case of product recall, manufacturers of defective products will also be required to give notice to every person to whom such consumer product was delivered or sold to. 

The measure also raises the administrative fines against erring manufacturers from P50,000 up to P10 million, depending on the discretion by the Trade Secretary. The current law imposes a fine of P500 to P300,000.

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