Our consumer group joined the national as well as international working groups in the area of digital financial products and services.The participation in working groups is testament to our credibility, sincerity and readiness to share our resources and competencies in the development of training tools as well as advocacy materials in the area of awareness, information and education of consumers in managing and mitigating risks of the use of digital financial products and services.
In the recently concluded World Consumer Rights Day, the Laban Konsyumer Inc. informed the panel of experts of the forum that the National Strategy for Financial Inclusion of the Philippines had formally included consumer groups in crafting adequate guidelines and training tools in the matter of digital inclusion.
We received the invitation from the BSP National Strategy for Financial Inclusion or NSFI Secretariat and returned the Expression of Interest Form. We chose as member of two (2) working groups, namely financial literacy and consumer protection and risk protection and safety nets . The information I shared in the forum generated reaction and comments from the other consumer associations around the globe especially the Korea consumer group who cautioned consumer associations should act smartly that we are not asked to do only what the State will let us do in a limited and restricted way in the matter of consumer protection on digital products and services.
In the international scene, Laban Konsyumer Inc.joined the working group on eLearning under the Fair Digital Acceleration Training Module 1 which aims to gather as much data of the different types of financial products and services available in low- and middle-income countries and identify specificities in each country of said products and services. The data will be used to ensure that the Training Module is comprehensive.
The questionnaires included who are the digital service providers in the country, how do these providers engage with the consumers , the most popular products available in the country, the top five digital service providers in the country , whether digital services are embedded in other digital services like food delivery services and other online platforms, how transparent and accessible are the pricing mechanism to the consumers , knowledge of digital services regulation and law on digital products and services , the slogans and advertisements used for digital products and services and do consumers have a better understanding of the digital products and services in their country .
I am very glad that Laban ConsumersInc. is an active participant of the research, developmentand education programs on digital products and services, both on our home court as well as in the global arena.
On prices of basic necessities
It is appalling that the unabated increases in the retail prices of fuel products is taken advantage of recklessly by the business sector at the expense of the consumers. The fast and speedy decimation of the peso power of the consumers due to the continuing increases of retail prices of fuels was aggravated by the rise in the retail prices of basic necessities. Regrettably, even the State acts on the side of the traders and tolerated the matter of price increases.
Canned goods inventory at the different levels of the supply chain averages from 2 weeks to a maximum of 8 months. In other words, retail prices of canned goods can stay unchanged if the State wieldedits police power. Using the tested fish bone analysis on the impact of fuels in the retail prices of basic goods would show that on a per unit or sku the increases is hardly noticeable. It can be as negligible as tenths or hundredths of a centavos per sku.Thus, what is happening is a large-scale profiteering being committed left and right and on the nose of the State authorities. And wittingly, you can say in our local lingo “awang awa pa sila sa negosyo”.
Thus, reading net profits of business into billions of pesos adds insult and injury to the hapless consumers. The traders immediately grabbed the 200 pesos assistance with the price increase.There is hardly compassion and corporate responsibility on the part of business and these are happening while we are in the midst of Lent.
I read that some countries may start rationing of diesel. We have to act swiftly in the country that profiteering being committed now is not aided by hoarding of fuels and basic goods.That’s double whammy to the consumers. Consumers need the State ‘s help.
Atty. Vic Dimagiba, AB, LLB, LLM
President, Laban Konsyumer Inc.
Email at [email protected]