COA commends PH Competitive Commission for 100 percent collection of fines

Instead of the usual adverse findings it announces, COA noted in its 2018 annual audit report that PCC was able to collect P31.74 million as fine on firms that violated Republic Act 10667 or the Philippine Competition Act within the reglementary period of 45 days.

The audit agency disclosed that 40 merger and acquisition transactions worth P438 billion were received by the Commission. Out of these transactions, four committed infractions and were fined. Another transaction, that of the acquisition of Uber share riding company by its competitor, Grab, has been penalized with a P16 million fine, but parties filed a motion for reconsideration contesting the PCC resolution.

The PCC is tasked to look into violations of the PCA and subject the prohbited transactions to administrative penalties and fines.

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