A LAWMAKER on Friday expressed hope that President Benigno Aquino III will sign into law a bill requiring business establishments to give exact change to consumers.
Bayan Muna party-list Rep. Carlos Zarate, one of the bill’s authors, said he was hopeful that Aquino, whose term ends next week, would not veto the proposed “Exact Change Act” like he did to several other measures”•including the bill granting a P2,000 increase in the pensions of Social Security System members and that increasing the salary of nurses.
The proposed “Exact Change Act” was referred to the President for his approval and signature after the House ratified the Conference Committee Report of House Bill 4730 on June 6 and Senate Bill 1618 on May 23, 2016.
Zarate said the measure, if passed into law, would strengthen the protection of consumers.
“The bill affirms the policy of the State to protect the interest and promote the general welfare of the consumer as well as establish standards of conduct for business and industry,” Zarate said.
The bill would make it unlawful for any business establishment to give insufficient change or no change at all to consumers purchasing products or services even if such change represented only a small amount.
The bill would prohibit any business establishment from giving change in any other form other than the currency or to ask the consumer for permission to be exempted from the provisions of the proposed Act for any reason, including the non-availability of small bills or coins.
The bill would also require business establishments to put signs in every counter saying “Demand your Exact Change.”
Business establishments would be required to use price tags when appropriate, indicating the exact retail price per unit or service that already includes the taxes applicable.