Connect with us

Hi, what are you looking for?

Editor's Pick

Consumer Act, CREATE named DTI priorities

THE Trade department has asked the new chairman of the House committee on trade and industry to prioritize the passage of consumer protections and pricing laws.

Trade Secretary Ramon M. Lopez and Navotas Representative John Reynald M. Tiangco held their first virtual meeting Tuesday.

In a statement Thursday, the Department of Trade and Industry (DTI) said Mr. Lopez sought priority treatment for the passage of a revised Consumer Act of the Philippines, as well as an expanded Price Act.

The House committee on trade and industry last year approved an amendment to the Price Act to classify personal protective equipment as a prime commodity subject to price regulation.

Mr. Lopez also asked that priority be given to small-business funding and the “One Town, One Product” encouraging various parts of the country to specialize in certain classes of goods. Mr. Lopez also expressed support for the revised Warehouse Receipts Law that would allow farmers to use their crops as collateral for bank loans, which is currently pending with the Committee on Appropriations.

Mr. Lopez also backed the passage of the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act, which cuts corporate income tax rates while streamlining fiscal incentives. Legislators are harmonizing both chambers’ versions of the measure and hope to wrap up bicameral conference committee sessions within the month.

“This is a very important piece of legislation that will help the economy recover much faster and stronger, with the reduction in income tax rates and better set of time-bound, performance-based and focused incentives,” he said.

“The CREATE bill is a game-changer in attracting more investments to the country.” — Jenina P. Ibañez

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like

Top News

Nikola, an electric truck startup, saw its stock price fly high as it went public and announced a deal with General Motors. A damning...

Top News

SEC probing Nikola Motors over short-seller claims of fraud – Business Insider Business Insider logoThe words “Business Insider”. 2020-09-14T23:20:04Z Massimo Pinca/Reuters The Securities and...

Top News

Trump paid over $70,000 on hair when he was on ‘The Apprentice’: NYT – Business Insider Business Insider logoThe words “Business Insider”. 2020-09-27T23:34:00Z Fred...


Stock Markets8 minutes ago (Jul 31, 2020 07:50PM ET) (C) Reuters. FILE PHOTO: James Murdoch, the son of media mogul Rupert Murdoch, and his...

Disclaimer:, 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.

Copyright © 2021 Secrets Of Richdads. All Rights Reserved.