Economic Secretary Arsenio Balisacan resigned on Monday as National Economic and Development Authority director general to assume a new post as the first chairman of anti-monopoly body Philippine Competition Commission.
“Taking on the job as the first chairperson of the PCC, for me, is a very compelling challenge that is hard to ignore. I see this as both a great responsibility and another privilege to steer the economy toward the right direction to realize all its growth potential,” said Balisacan.
Balisacan’s resignation will take effect on Jan. 31. Neda deputy director-general Emmanuel Esguerra will serve as the officer-in-charge of the agency.
PCC was created after President Benigno Aquino III signed into law Republic Act No. 10667, or the Philippine Competition Act on July 21, 2015.
The commission is a quasi-judicial body that will enforce and implement the provisions of the Philippine Competition Act, including its implementing rules and regulations.
It is tasked to ensure an efficient market competition in providing a level-playing field among businesses engaged in trade, industry and all commercial economic activities.
PCC aims to protect consumer welfare and advance both domestic and international trade and economic development. It also has the mandate to conduct inquiries, investigate and penalize all forms of anti-competitive agreements, abuse of dominant position and anti-competitive mergers and acquisitions.
“We would want to address the problem of having a growing economy but with the benefits of such growth only for a small sector. Promoting fair and healthy competition among firms is a major factor in ensuring that the benefits of growth are properly shared,” Balisacan said.
Balisacan, who was appointed as Neda chief and economic planning secretary in May 2012, is also the first chairman of the Philippine Statistics Authority board and the Public-Private Partnership Center board.
Concurrently, he is also the chairman of the board for the Philippine Institute of Development Studies, Philippine Center for Economic Development and the Philippine Statistical Research and the Training Institute.
Prior to his appointment to Neda, Balisacan was dean and professor at the University of the Philippines School of Economics.
He also served as the director of the Southeast Asian Regional Center for Graduate Study and Research in Agriculture from 2003 to 2009 and undersecretary of the Agriculture Department in 2000, 2001 and 2003.
“Recognized as a leading development economist in Asia, Balisacan will be bringing to PCC, aside from his experience as secretary of socioeconomic planning, is his expertise in development economics, international economics and applied welfare economics. Balisacan has been an academician of the National Academy of Science and Technology since 2008 and an adjunct professor at the Australian National University since 2011,” Neda said.