DTI Contemplates Calamity-Only SRP Bulletins, Embracing a More Free-Market Approach

The Department of Trade and Industry (DTI) is actively deliberating a significant shift in its policy regarding the issuance of Suggested Retail Price (SRP) bulletins. The current practice of regularly updating SRP bulletins may give way to a new approach, where such updates are reserved only for times of calamity and subsequent price freezes. DTI Assistant Secretary Amanda Nograles highlighted this potential pivot towards a more free-market-oriented system during a report on Unang Balita.

This paradigm shift was a focal point of discussions in the recent meeting of the National Price Coordinating Council. The move, if implemented, would mark a substantial change from the prevailing practice, leaning towards letting market forces dictate pricing, except during emergencies where price stabilization becomes crucial.

The supermarket and grocery sector, represented by the Philippine Amalgamated Supermarkets Association Inc., has expressed support for this proposal. Steven Cua, speaking on behalf of the association, underscored the role of competition in maintaining balance in the market. He advised consumers to leverage the diversity of brands and opt for alternatives if prices of certain products surge unjustifiably, hinting at the natural regulatory effect of a competitive market.

This contemplation by the DTI of transitioning towards a more laissez-faire approach to SRP bulletins, while reserving the right to intervene during calamities, reflects a nuanced understanding of market dynamics and consumer protection. It’s a balancing act between ensuring fair pricing and allowing the market to self-regulate, fostering an environment where consumer choice and competitive pricing go hand in hand.