Skip to main content

Posts

Showing posts from February, 2014

WARNING: FAKE MONEY ON THE LOOSE

  In view of the amount of fake paper bills circulating in the economy, PAGASA sends this advisory on how to tell what is fake from what is real:  

CONGRESSIONAL HEARING ON EXACT CHANGE BILL

On 11 Feb. 2014, PAGASA was invited to the public hearing on the Bill on Exact Change. Chairman Mark A. Villar of the Committee on Trade Industry heads the hearing on the proposal to penalize retailers who do not give exact change in day-to-day operations. PAGASA’s Position Paper states that it feels that there is no strong need for such a law sinceimplementation would be extremely difficult. (Proposed law says customer who is short-changed may complain with the DTI which will conduct investigations given prescription period.) First of all, producing a witness would be very difficult or even video captured on CCTV may not produce the evidence needed for alleged wrong-doing. PAGASA Paper suggests that it may be easier/cheaper to put the retailer to shame through the new forms of social media. This would save the government precious time/resources on such a trite matter that can be effectively corrected through word-of-mouth reports/blogs (not verbatim; see actual Position Paper).