Staying true to its vision of promoting a more competitive Philippines and instilling a culture of excellence, the National Competitiveness Council (NCC) set Project Repeal into motion last June 13. The program vows to cut red tape in the country by repealing, revoking, or amending burdensome rules and provisions that may be detrimental to the economy. The participating government agencies to the program are the Departments of Trade and Industry (DTI), Finance (DOF), Energy (DOE), Budget and Management (DBM), Tourism (DOT), Securities and Exchange Commission (SEC), and the Land Transportation Franchising and Regulatory Board (LTFRB).
An initial of 17,338 laws and issuances will be reviewed, says NCC co-chairman for the private sector Bill Luz. Some of these rules date back to the Martial Law Period and Commonwealth era and are already obsolete. Around 3,959 out of the 17,338 are issuances which will either be repealed or amended. Luz said that once fully implemented, there will be a reduction in costs of compliance which will benefit people, businesses, and the economy as a whole.
