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Manila Bulletin devider Philippines devider National devider Mark Villar seeks probe on price increase, supply shortage of various manufactured goods

Mark Villar seeks probe on price increase, supply shortage of various manufactured goods

Published Sep 9, 2022 03:03 pm

Deputy Majority Leader Senator Mark A. Villar has filed a resolution seeking a probe on the alleged price increase and supply shortage of various manufactured goods.

Villar’s Senate Resolution No. 193 explained that the continuous increase in prices erode the purchasing power of the poor and marginalized sectors in the country.

He said this has a significant impact on poverty as the upswing in prices would directly hit the pockets of the consumers already tightening their belts because of the effects of the Covid-19 pandemic and might result to hunger.

The bill also stated that negative impact of price hikes are apparent as the Department of Trade and Industry (DTI) already suggested to the consumers to purchase their Noche Buena needs earlier to avoid a surge in market prices during the Christmas season.

“The DTI already suggested to buy Noche Buena needs this early. If that’s the case, gaano nalang kataas ang mga bilihin come December (how much more would the increase of Christmas goods be) ? We really need to look into this,” Villar pointed out.

Villar, chairman of the Senate trade committee, also mentioned that the price stability of manufactured goods is a significant factor for food security to ensure that these products are not only available to consumers but also to ascertain that every Filipino could afford them.

“It is vital that as legislators, we promote the improvement of local industries, enhance market competitiveness and balance the welfare of both the producers and the consumers,” he added.

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