DTI Monitoring Prices of Basic Goods

Department of Trade and Industry Secretary Alfredo E. Pascual has mentioned that the supply and prices of basic manufactured goods in supermarkets have stayed stable as he began the price inspection and monitoring efforts of the agency.

On his first “Ikot Palengke” for 2023, Secretary Pascual started his price watch in Guadalupe Public Market and select supermarkets in Makati City last January 13.

Strategic market monitoring targets to tackle the issues of hoarding, profiteering, and other artificial shortages that influence prices. Aside from this, it targets to secure the availability of other alternatives to basic necessities and prime commodities or BNPCs in case of supply storage.

Secretary Pascual led the Fair Trade Enforcement Bureau (FTEB) monitoring task force with the theme “Tamang Timbang, Tamang Presyo Para sa Mamimiling Pilipino” in inspecting BNPCs, the accuracy of measures and weights, and appropriate price tags.

Chairman of the Senate Committee on Trade and Industry, Senator Mark A. Villar joined the DTI in their monitoring activity to observe the operations of sellers in wet markets to see the causes of increasing prices of agricultural items.

“Our unceasing on-the-ground price and supply monitoring is also a strong warning that the Department will pursue strict measures against unscrupulous business practices like hoarding, profiteering, and cartels,”  mentioned Secretary Pascual.

Senator Villar stated that  “We commend and support DTI’s initiatives such as today’s Ikot Palengke because we strongly believe that ensuring fair transactions not only promotes consumer confidence but also boosts local industries.”

Source: Manila Bulletin