Connect with us

Hi, what are you looking for?

Captain Of Success
Top Stories

Stock Markets

Regulator finds possible competition law violations in flood control bid rigging

Regulator finds possible competition law violations in flood control bid rigging – BusinessWorld Online


      
      
      
      
      








PHILIPPINE STAR/MIGUEL DE GUZMAN

THE Philippine Competition Commission (PCC) said on Tuesday that it found possible violations of the Philippine Competition Act in the course of its investigation into alleged bid rigging in flood control projects in Bulacan.

In a statement on Tuesday, the PCC said it referred, through its Competition Enforcement Office, its initial findings to the Department of Justice (DoJ) on Nov. 14.

In particular, the PCC said that it found possible bid rigging in certain flood control contracts at the Department of Public Works and Highways (DPWH) 1st District Engineering Office of Bulacan.

“Evidence gathered indicates that the contractors agreed to rig and manipulate the bidding process by having predetermined winning and losing bidders,” the PCC said.

“On the other hand, several public officers of the DPWH 1st District Engineering Office facilitated and ensured that the bid-rigging arrangement was followed,” it added.

The PCC defines bid rigging as collusion by bidders to manipulate the outcome of a public procurement exercise.

“Such conduct undermines competition, deprives the public of fair value, and wastes government resources,” it said.

The DoJ is set to “evaluate the referral and recommend either the conduct of further case build-up or proceed to preliminary investigation.”

“The PCC will continue to support the process and uphold its mandate to safeguard competitive markets and protect public interest,” the competition authority said.

The DPWH tapped the PCC to evaluate to what extent infrastructure bidding is affected by collusion. — Justine Irish D. Tabile

CEDTyClea





    You May Also Like

    Stock Markets

    STOCK PHOTO | Image by Sahand Babali from Unsplash (Part 6) Can the Philippines still be a major exporter of manufactured exports like the...

    Stock Markets

    FACEBOOK.COM/MNLCDRRMO AN INFLUENTIAL religious group abruptly ended its anti-corruption protest on Monday evening, cutting its planned three-day demonstration in the Philippine capital amid its...

    Finance

    One in six UK employers expect artificial intelligence to reduce the size of their workforce within the next 12 months, according to a major...

    Stock Markets

    The award-winning Pico Terraces is an expansive resort-style, series of condominium buildings located in Hamilo Coast’s Pico De Loro Cove in Nasugbu, Batangas. Hamilo...

    Disclaimer: CaptainOfSuccess.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice.
    The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.