DTI: Automatic Price Freeze on Calamity Stricken Areas

After Typhoon Paeng’s onslaught, there is an automatic price freeze on basic necessities and prime commodities (BNPCs) in areas that were declared under a state of calamity as mentioned by the Department of Trade and Industry.

“The DTI is closely coordinating with the Office of the Civil Defense (OCD) on the declarations of State of Calamity. Automatic price freeze shall apply to basic necessities. Establishments found violating the price freeze may be subjected to administrative cases and fines,”  said DTI Secretary Alfredo Pascual.

Secretary Pascual also mentioned that there are monitoring teams of the DTI in provinces and regions who are checking groceries and supermarkets to guarantee stability and supply prices.

“We also encourage consumers to be vigilant and report any violation or incident of overpricing or hoarding,”  says Secretary Pascual.

The DTI says that Secretary Pascual is likewise closely coordinating with DTI Undersecretary Ruth B. Castelo and the DTI’s consumer protection group on meeting with manufacturers, reviewing reports, and talking with Cabinet members.

The Price Act or Republic Act No. 7581 establishes that necessities (BN) prices are automatically frozen at their prevailing prices for sixty days once declared a State of Calamity (SOC)n the area.

The DTI monitors products that are basic necessities such as salt, detergent, soap, candles, coffee, milk, bread, bottled water, locally made instant noodles, and canned fish.

Other government agencies that help implement the Price Act likewise guarantee price stability and supply availability under their jurisdiction such as the Department of Agriculture on fresh fruits,  corn, rice, eggs, pork, beef, and poultry to name a few.

Source: Manila Bulletin