NEDA chief resigns, moves to new commission
MANILA, Philippines – National Economic and Development Authority (NEDA) Director-General Arsenio Balisacan has resigned and is set to become the first chairperson of the newly-formed Philippine Competition Commission (PCC).
In a press statement released Monday, January 25, NEDA confirmed the socioeconomic planning secretary's resignation, effective Sunday, January 31.
Balisacan will head the PCC, a commission mandated to ensure efficient market competition and provide a level playing field for businesses. It was created after President Benigno Aquino III signed Republic Act No. 10667 or the Philippine Competition Act into law on July 21, 2015.
Balisacan said his new job is "a very compelling challenge that is hard to ignore." (READ: Is the Philippine Competition Act really a game-changer?)
"I see this as both a great responsibility and another privilege to steer the economy toward the right direction to realize all its growth potential," he added.
Aside from investigating and penalizing anti-competitive business practices, the PCC is also mandated to protect consumer welfare and boost trade – both domestic and foreign. (READ: What consumers need to know about the PH Competition Act)
"We would want to address the problem of having a growing economy but with the benefits of such growth only for a small sector," Balisacan said. "Promoting fair and healthy competition among firms is a major factor in ensuring that the benefits of growth are properly shared." (READ: Keep the devil away from the Philippine Competition Act)
Balisacan, who has served as NEDA chief since May 2012, will be replaced by Deputy Director-General Emmanuel Esguerra, who has been named officer-in-charge. – Rappler.com