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Manila Bulletin devider Business devider Trade & Industry devider DTI imposes price freeze in Typhoon Kristine-hit areas

DTI imposes price freeze in Typhoon Kristine-hit areas

Published Oct 23, 2024 05:46 am

Following the devastation caused by Typhoon Kristine, the Department of Trade and Industry (DTI) has implemented a price freeze on basic necessities in areas declared under a state of calamity.

As of Tuesday, Oct. 22, the DTI said Albay province and Magpet Town in Cotabato are currently covered by this measure due to widespread flooding and landslides.

“The DTI under the Marcos Jr. administration is committed to protecting consumers during this challenging time. Our on-the-ground regional and provincial offices actively monitor prices and supply levels of products within our jurisdiction in all affected areas,” DTI Secretary Cristina A. Roque said.

The automatic price freeze is mandated by Republic Act No. 7581, or the Price Act, whenever a state of calamity is declared. 

The order applies to basic necessities for 60 days, including canned fish, instant noodles, bottled water, bread, processed milk, coffee, candles, laundry soap, detergent, and salt. Businesses must maintain these items at the prices existing before the calamity declaration.

Roque said the DTI is working closely with the Office of Civil Defense to ensure the price freeze is upheld. 

“The DTI will take strong action against any violations, which may include administrative cases and fines,” she added.

Other government agencies, such as the Department of Agriculture and the Department of Health, will also be monitoring prices and supply of their respective products, including rice, corn, cooking oil, vegetables, meat, essential drugs, and more.

Consumers are encouraged to report any businesses suspected of violating the price freeze. They can contact the DTI through the One-DTI (1-384) Hotline, and email [email protected] or [email protected].

The price freeze will remain in effect for 60 days unless lifted sooner by the President.

Related Tags

Price freeze Trade Secretary Department of Trade and Industry Ma. Cristina A. Roque KristinePH
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