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Manila Bulletin devider Business devider Trade & Industry devider DTI starts monitoring to ensure price freeze compliance

DTI starts monitoring to ensure price freeze compliance

Published Jul 26, 2024 11:59 pm

The Department of Trade and Industry (DTI) has deployed a monitoring team to verify compliance with the price freeze in supermarkets and grocery stores in Metro Manila, which are declared under state of calamity.

Trade Secretary Alfredo E. Pascual said that the DTI has implemented a 60-day price freeze on essential goods to safeguard consumers against price gouging and guarantee fair access to necessary items following the aftermath of Typhoon Carina.

On Friday, July 26, the DTI conducted the first round of price monitoring for essential goods and prime commodities in Makati and Parañaque.

Out of the three grocery stores inspected, two were found to be in compliance with the prescribed price freeze, while one was discovered to be selling commodities at prices exceeding the mandated price list.

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(L-R) DTI Fair Trade Enforcement Bureau (FTEB) Director Atty. Fhillip D. Sawali, together with DTI Undersecretary for Communications Edgardo Sunico, posting the Price Freeze Bulletins in the monitored grocery stores.

“We strongly warn traders and retailers that prices of basic necessities must remain frozen at their prevailing levels prior to the declaration of state of calamity. Manufacturers, distributors, and retailers facing supply chain disruptions are encouraged to reach out to the DTI for assistance,” Pascual said.

Trade Undersecretary Ed Sunico, who led price monitoring activity, said the public must be vigilant and encouraged to report any instances of price gouging or violations.

Sunico said that such actions are essential to holding unscrupulous businesses accountable.

“The DTI will continue to actively investigate and apprehended any businesses found to be taking advantage of consumers during this crisis,” Sunico added.

Section 6 of Republic Act No. 7581, also known as the Price Act, requires a 60-day price freeze on essential items in areas under a state of calamity. This action aims to maintain the availability of basic necessities at fair prices and to prevent retailers from taking advantage of the situation by overpricing.

Retailers who are caught selling goods above the listed prices may face administrative charges with severe penalties, which include a fine of up to PHP 1 million and/or imprisonment for a maximum of 10 years.

The price freeze covers various essential items such as canned sardines, processed milk, coffee, bread, instant noodles, salt, laundry soap, bottled water, and candles in areas affected by the recent typhoon.

Apart from Metro Manila, a state of calamity has been declared in several other areas due to severe weather, including Bataan, Batangas, Bulacan, Rizal (Cainta), Cavite, and Oriental Mindoro (Baco and Pinamalayan).

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