Philippine competition and transport regulators signed a memorandum of agreement to boost cooperation in promoting fair competition and protecting commuters in the public land transport sector.
Philippine Competition Commission (PCC) chairperson Michael Aguinaldo and Land Transportation Franchising and Regulatory Board (LTFRB) chairperson Vigor Mendoza II signed the agreement that sets protocols for policy coordination, notifications, investigation support and information sharing.
The partnership aims to ensure better services and fairer prices for the riding public by embedding competition principles into transport regulation.
Under the agreement, the agencies will consult on transport policies and review LTFRB rules for compliance with the Philippine Competition Act (PCA).
They will jointly address anti-competitive agreements, abuse of dominant position, anti-competitive mergers and acquisitions and other violations of the competition law.
The memorandum also allows for the creation of joint task forces and provides logistical support for investigations. Both agencies will have access to relevant information while maintaining strict safeguards for confidentiality and data privacy.
The collaboration further covers capacity-building activities and advocacy initiatives to raise awareness of competition law among transport operators and commuters. Aguinaldo said working closely with the LTFRB ensures more choices for the riding public.
