PCC, SM Prime ink pact to promote fair trade, competition

The Philippine Competition Commission (PCC) and SM Prime Holdings Inc. have forged a partnership to launch a nationwide information campaign that would raise public awareness about the mandate of the antitrust body in ensuring free market and fair competition for the benefit of Filipino consumers.

In a signing ceremony at the PCC’s headquarters in Quezon City on Tuesday, the antitrust watchdog and SM Prime inked memorandum of cooperation, signifying the malls operator’s commitment to promote fair trade and competition among its customers and stakeholders.

The accord was signed by PCC chairman Michael Aguinaldo and SM Supermalls assistant vice president for operations Ian Mathay.

Under the agreement, SM will feature PCC’s campaign materials across the following platforms:

• Cinema ads
• LED poster boxes and cinema directions
• Digital mall directions
• Large format display (LFD) screens
• In-mall LED screens

“There is a continuous and continuing need to help make the public aware of what competition under PCA (Philippine Competition Act) means and how competition is meant to benefit consumers and businesses alike,” Aguinaldo said.

“Perhaps, even greater is the commitment of SM to abide by competition law through the conduct of seminars on competition law and policy for, not only their employees, but also their tenants in all their malls for the next two years,” the PCC chief said.

Aguinaldo added that the malls and property giant will appoint a competition compliance officer who will be working with the PCC in coming up with a compliance program for SM.

“This will, in effect, provide an opportunity for SM to correct itself in case there are any anti-competitive practices before it goes to the level of an actual case,” the antitrust body chief said.

Aguinaldo bared that it was SM Prime who pitched running the PCC’s campaigns to “somehow” and “effectively” address a concern about the availability of other bottled water brands, apart from SM Bonus, in food carts and kiosks in SM malls.

The PCC chief clarified that there was no formal complaint filed concerning the supposed preference of SM malls to its own bottled water brand to be sold among its food cart and kiosk tenants, but only a social media post from a concerned netizen.

SM, in turn, reached out to PCC to address the issue and proposed to partner with the agency to run an information campaign about promoting free and fair market as well as leveling the playing field.

“SM Supermalls recognizes its enduring partnership with the PCC. SM Supermalls believes that fair market competition will lead to a vibrant and inclusive economy, and advance consumer welfare. It likewise shares the PCC’s vision that fair market competition serves the interest of consumers by allowing them to exercise their right of choice over goods and services offered in the market,” said Mathay.

SM Prime has 86 malls across the Philippines.

"We are proud to join forces with the PCC in promoting fair trade practices," said SM Supermalls' president Steven Tan. 

"By working together, we can empower consumers to make informed choices and contribute to a robust and competitive market,” said Tan.—AOL, GMA Integrated News