The Philippine Competition Commission (PCC) is seeking feedback from the public on its proposed increases to fines imposed against violators of the country’s competition law to help preserve their real value against inflation.

In a social media post, the antitrust watchdog invited the public to submit comments on its draft memorandum circular proposing adjustments to the schedule of fines under the Philippine Competition Act (PCA).

The PCC said these amendments update administrative fines for violations to ensure that penalties remain effective in promoting fair competition and protecting consumer welfare.

The PCA allows for inflation adjustments every five years to maintain the real value of penalties from the time the law was enacted in 2017.

Following the amendments in 2021, the PCC is raising the maximum administrative fine for the first offense of cartels, abuses of dominance, and prohibited mergers to ₱125 million from ₱110 million.

For the second and succeeding offenses, the updated fine ranges from ₱125 million to ₱310 million, up from the previous ₱110 million to ₱275 million.

Under the draft memo circular, the PCC removed the third and succeeding offenses, consolidating these instead under the second offense.

For belated merger notifications, the maximum fine has been set at ₱2.5 million, up from ₱2.2 million.

The same increase was proposed for failure to notify the sale, donation, disposition, or any other transfer, as well as for failure or refusal to comply with a ruling, order, or decision of the PCC.

For supplying incorrect or misleading information, the maximum fine has been revised upward to ₱1.25 million from ₱1.1 million.

Further, for those found to commit acts constituting obstruction of PCC investigations, the maximum penalty is set at ₱2.5 million from ₱2.2 million.

“This memorandum circular may be modified, amended, supplemented, or repealed, as may be deemed necessary and proper by the commission, in accordance with the provisions of the [PCA] and other relevant existing laws and rules,” the PCC said in the draft document.

The PCC said it will accept comments on the proposed fine adjustments until March 13.