PCC looks into price spikes in onions, eyes cartel READ MORE:
In a statement, the PCC said this was consistent with the probe prompted by House Speaker Martin G. Romualdez and House Resolution No. 681 filed by Marikina Rep. Stella A. Quimbo.
Under the Philippine Competition Act , businesses found to have taken advantage of the situation may be fined up to P100 million and even face jail time of up to seven years.The fines may triple if the trade of basic necessities, including agricultural products identified by the Price Act, are involved in cartel or abuse of dominance violations, the PCC added.
The Speaker instructed the House committee on agriculture and food, chaired by Quezon Rep. Wilfrido Mark Enverga, to conduct an investigation and, if warranted by evidence, to recommend the filing of criminal charges against the people behind the scheme. “It is very important to ensure that any importation should consist of such quantity and be done well ahead of the harvest season to avoid any adverse effect on the livelihood of our local farmers,” he said.
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