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Mandaue City forms task force to monitor prices

Philippines | Visayas

Mandaue City forms task force to monitor prices

By Calvin Cordova

OUANO (left)

CEBU CITY – Mandaue City has formed a task force that will intensify price monitoring in the city.

The creation of the task force mandated to conduct regular inspections of basic commodities and ensure price stability was finalized during a special meeting of the Price Monitoring Council on Thursday, March 5.

Present during the meeting were officials from the Department of Trade and Industry (DTI), Department of Agriculture (DA), City Health Office and City Market Office, Business Permit and Licensing Office (BPLO), Mandaue City Police Office (MCPO), and Mandaue Chamber of Commerce and Industry (MCCI).

In the meeting presided over by Riczen Gingoyon, executive secretary of Mayor Thadeo “Jonkie” Ouano, the task force will conduct random weekly inspections.

Establishments and vendors were warned of severe penalties if they are found guilty of overpricing or hoarding basic commodities.

The DTI said these illegal practices are punishable under Republic Act 7581, also known as the Price Act of the Philippines, and RA 12022 or the Anti-Agricultural Economic Sabotage Act.

Violators may face fines ranging from P5,000 to P2 million and imprisonment of five to 15 years.

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