Filipinos are fond of watching rivalries and battles whether it’s on the basketball court, boxing ring, political arena or even in daily soap operas on TV.
And if you think that a David and Goliath confrontation can only be found in the entertainment section of a newspaper, you might want to try browsing the business section for some interesting happenings in the biz world today.
Have you heard of the recent stand of Mighty Corp. Inc., a Philippine tobacco manufacturer, that it will fight back within the law against multinational competitors trying to control the country’s multibillion-peso local t0bacc0 industry?
It was reported that Philip Morris and partner Fortune T0bacc0 Corp. complained that the Filipino-owned company had eaten into its market through the sale of P1-per-stick cigarettes through allegedly illegal withdrawals and misdeclaration of imported raw materials.
Mighty Corp. Inc. lawyer Miguelito Ocampo has denied such accusation and said, “We assure our loyal customers, bankers, retailers, wholesalers and employees that we will not remain passive against the subterfuge and other malicious and damaging trickeries employed by our competitors in trying to destroy our business,”
Selling of low-priced cigarettes is allowed under Republic Act 10351 or better known as the new sin tax law.
He also added that this is not possible because the Bureau of Customs and the Bureau of Internal Revenue are tightly and closely monitoring their shipments, manufacturing, withdrawals and marketing.
Ocampo also dismissed reports that Mighty allegedly resorted to technical smuggling and illegal withdrawals that enabled the company to sell low-priced cigarettes.
“This kind of disinformation does not only undermine the integrity of our revenue authorities but also deceives the public, consumers in particular, to create hatred against our company and in the process undermine our market,” Ocampo emphasized.
And while we wait for the smoke to clear regarding this issue, for now we can just sick back, relax and say, “Abangan ang susunod na kabanata” just like in our favorite TV series.