Pandemic risks 'distorting' market competition: antitrust watchdog

ABS-CBN News

Posted at May 28 2020 10:11 AM

A woman waits outside a closed business establishment in Cubao, Quezon City on May 27, 2020. Jonathan Cellona, ABS-CBN News

MANILA - The Philippine Competition Commission said Thursday the COVID-19 pandemic highlighted the need for policies that protect small businesses.

Anti-competitive behaviors during a crisis such as untimely mergers and acquisitions might advantage of closing firms, PCC chairman Arsenio Balisacan told ANC.

"There is risk of lessening competition and distorting market structures due to public responses to the crisis. Competitive processes during the recovery build robust foundation for sustained and inclusive growth," Balisacan said.

The PCC was asked to comment on stimulus bills that are pending in Congress, Balisacan said. It is also working with lawmakers on competition law and policy.