Finex cheers ‘Konektadong Pinoy’ bill passage
The Financial Executives Institute of the Philippines (Finex) cheered the passage of the controversial Konektadong Pinoy Bill, citing the need for this measure to boost internet connectivity in the country.
In a statement on Monday, Finex said the measure would allow the entry of more players with the removal of the congressional franchise requirement, encouraging competition and innovation in the sector.
“This can improve internet access, particularly in underserved rural areas, supporting broader goals of financial inclusion, digital literacy, and regional development,” the business group said.
The bill was already ratified by the Congress. It is awaiting the signature of President Marcos.
Finex stressed the need for “careful implementation” of the measure for the sake of both industry players and consumers.
“Increased market participation must be balanced with robust oversight to ensure service quality, equitable rollout, and consumer protection,” it said.
“Appropriate incentives and policy guidance, which the bill mandates the regulators to provide, must be in place to ensure that all areas, particularly the underserved areas, benefit in keeping with the objective of the bill,” it added.
However, the Philippine Chamber of Telecommunications Operators (PCTO), whose members include industry leaders PLDT Inc. and Globe Telecom Inc., previously raised the need for some bill amendments as it could hinder fair competition and even put national security at risk.
For one, PCTO said that exemptions data transmission providers from “securing a congressional franchise and a Certificate of Public Convenience and Necessity creates an unequal regulatory environment, violating the principle of fair competition.”
