DTI freezes prices in 7 areas
The Department of Trade and Industry (DTI) on Friday said a price freeze on basic necessities is now in effect in seven areas due to the effects of Supertyphoon “Carina” and the southwest monsoon.
According to the DTI, these provinces include Metro Manila, Batangas, Cainta in Rizal, Cavite, Oriental Mindoro, Bataan and Bulacan.
“There have been slight increases, less than 1 percent. But that is tolerable and we issue warnings to them,” Trade Secretary Alfredo Pascual said in a radio interview.
Pascual said that the price freeze will last for 60 days following the declaration of a state of calamity in an area, unless an announcement is made lifting the price control earlier.
This price control includes essential goods such as rice, corn, bread, fresh vegetables, root crops, pork, beef, poultry, eggs, milk, coffee, sugar, cooking oil and salt.
Profiteers beware
Also included in the list are laundry soap, detergent, firewood, charcoal, candles and certain medicines classified as essential by the Department of Health.
A day earlier, Pascual issued a warning to businesses that may attempt to exploit the situation.
“We have activated our monitoring teams to strictly enforce the price freeze. Those found violating the law will face severe consequences, including imprisonment and substantial fines. We urge all establishments to comply with the price freeze and prioritize the well-being of our fellow citizens during this difficult time,” Pascual said.
Under the Price Act, penalties for price manipulation include imprisonment of five to 15 years, with fines ranging from P5,000 to P2 million.
Those found violating the price ceiling face prison time of one year to 10 years, as well as fines ranging from P5,000 to P1 million.
Cases of overpricing or violations can be reported to the DTI Consumer Care Hotline at 1-384 or via email at consumercare@dti.gov.ph.
