Manila Bulletin
Philippines
DTI obtains commitment from suppliers, retailers of no price increase for medical masks
Philippines
DTI obtains commitment from suppliers, retailers of no price increase for medical masks
DTI obtains commitment from suppliers, retailers of no price increase for medical masks
Published Jan 16, 2020 12:00 am
By Richa Noriega
The Department of Trade and Industry (DTI) obtained on Wednesday the commitment of some drug and medical stores that they will not jack up their prices of face masks upon the surge in demand of these products after the eruption of Taal Volcano last Sunday.
Residents of Las Piñas City wore face masks to avoid inhaling the ashfall brought by the eruption of Taal Volcano in Batangas on Sunday. (ALI VICOY / FILE PHOTO / MANILA BULLETIN)
On Monday, the agency issued a notice to retailers that it has teams to monitor and observe the movement of retail prices in the market, particularly in the provinces of Cavite, Laguna, Batangas, Rizal, and Quezon.
DTI said N95 masks are sold at P120 up to P150 per piece while surgical masks that were priced at P1.00 per piece were sold at P4.00 per piece after the Taal eruption. These were mostly sold out due to an increase in public demand as ash fall enveloped nearby cities and provinces surrounding Taal.
“While we recognize that the N95, surgical, and other similar masks as medical supplies are under the jurisdiction of the Department of Health (DOH), the DTI readily dispersed its teams to monitor the prices and supply of these masks to assist the DOH and the consumers,” DTI Secretary Ramon Lopez said in a statement.
Since stocks of the medical masks were depleted, DTI talked with local suppliers and major drug store chains such as Mercury Drug, Watsons, and Southstar Drug to make sure that they immediately restock and ensure the constant availability of supplies in their branches, especially those located in the affected areas.
“Market surveillance and monitoring is the best form of immediate assistance that the DTI can provide,” Lopez said.
The department warned that those found to have unreasonably increased their prices for face masks and other similar items could be charged with profiteering and shall be dealt with to the fullest extent of the law.
Prices of manufactured, basic, and prime goods shall likewise remain unchanged as of the published 30 September 2019 DTI Suggested Retail Price Bulletin, the department added.
The agency said it will not hesitate to file administrative and criminal charges against unscrupulous business entities and individuals who capitalize on consumers’ urgent need for their own profit.
READ MORE: DTI warns against overpricing face masks
Residents of Las Piñas City wore face masks to avoid inhaling the ashfall brought by the eruption of Taal Volcano in Batangas on Sunday. (ALI VICOY / FILE PHOTO / MANILA BULLETIN)
On Monday, the agency issued a notice to retailers that it has teams to monitor and observe the movement of retail prices in the market, particularly in the provinces of Cavite, Laguna, Batangas, Rizal, and Quezon.
DTI said N95 masks are sold at P120 up to P150 per piece while surgical masks that were priced at P1.00 per piece were sold at P4.00 per piece after the Taal eruption. These were mostly sold out due to an increase in public demand as ash fall enveloped nearby cities and provinces surrounding Taal.
“While we recognize that the N95, surgical, and other similar masks as medical supplies are under the jurisdiction of the Department of Health (DOH), the DTI readily dispersed its teams to monitor the prices and supply of these masks to assist the DOH and the consumers,” DTI Secretary Ramon Lopez said in a statement.
Since stocks of the medical masks were depleted, DTI talked with local suppliers and major drug store chains such as Mercury Drug, Watsons, and Southstar Drug to make sure that they immediately restock and ensure the constant availability of supplies in their branches, especially those located in the affected areas.
“Market surveillance and monitoring is the best form of immediate assistance that the DTI can provide,” Lopez said.
The department warned that those found to have unreasonably increased their prices for face masks and other similar items could be charged with profiteering and shall be dealt with to the fullest extent of the law.
Prices of manufactured, basic, and prime goods shall likewise remain unchanged as of the published 30 September 2019 DTI Suggested Retail Price Bulletin, the department added.
The agency said it will not hesitate to file administrative and criminal charges against unscrupulous business entities and individuals who capitalize on consumers’ urgent need for their own profit.
READ MORE: DTI warns against overpricing face masks