Senate Bill No. 265 under Committee Report No. 265
An Act Requiring Business Establishments to Give Exact Change to Consumers
Senator Paolo Benigno “Bam” A. Aquino IV
16th Congress, Senate of the Philippines
Sponsorship Speech, October 6, 2015
Good afternoon, Mr. President and my distinguished colleagues. Mga kaibigan, mga kababayan, magandang hapon sa ating lahat!
I am pleased to address you today in support of consumer protection and the continued professionalization of our micro, small and medium enterprises (MSMEs), as I sponsor Senate Bill No. 265, under Committee Report No. 265, entitled An Act Requiring Business Establishments to Give Exact Change to Consumers.
Mr. President and esteemed colleagues, as our economy continues to rise and a mounting number of Filipinos have more purchasing power, weaving decency, integrity, and professionalism into our social fabric becomes increasingly important.
This measure promotes such a culture among our Filipino entrepreneurs by prohibiting the giving of insufficient or no change.
This measure will also require that price tags reflect the exact price, including taxes, and that signs are posted to remind customers to make sure they aren’t shortchanged.
First-time violators shall be fined 500 pesos. The second offense will warrant a three-month suspension of the establishment’s license to operate along with a fine of 15,000 pesos. And a third violation results in the revocation of the establishment’s license to operate and a fine of 25,000 pesos.
In the advent of the ASEAN Integration and our rise to economic power, let us show the world that all Filipinos – from established corporations, medium enterprises and down to our sari-sari stores – can engage in business professionally, honestly, and justly.
This practice of giving consumers what they are due, down to the last centavo, breeds a culture of precision and fairness that should permeate through all Filipino businesses.
Naniniwala tayo na madadala at mapakikinabangan ng mga negosyanteng Pilipino ang kasanayang ito kapag lumaki at lumago ang kanilang negosyo.
Inaasahan ko po ang inyong suporta sa pagpasa ng patakarang ito.