THE Department of Trade and Industry (DTI) is reminding business establishments in areas under state of calamity, including Bangsamoro Autonomous Region in Muslim Mindanao (BARMM), to adhere to the price freeze on basic necessities.
“The DTI is closely coordinating with the Office of the Civil Defense [OCD] on the declarations of State of Calamity. Automatic price freeze shall apply to basic necessities. Establishments found violating the price freeze may be subjected to administrative cases and fines,” Trade Secretary Alfredo Pascual said in a statement after tropical storm Paeng (international name Nalgae) in the country wrought damage on a wide area of the country.
“The DTI monitoring teams in the regions and provinces check the supermarkets and grocery stores to ensure availability of supply and stability of prices. We also encourage consumers to be vigilant and report any violation or incident of overpricing or hoarding,” Pascual added.
According to the Trade department, the price freeze shall automatically be adhered to following the onslaught of “Paeng,” which ravaged Maguindanao province, among others, leaving about 40 fatalities in the province, based on the National Disaster Risk Reduction and Management Council (NDRRMC)’s report.
Under Republic Act No. 7581, or the Price Act, as amended, prices of basic necessities (BN) are automatically frozen at their prevailing prices for 60 days once a State of Calamity (SOC) is declared in an area. The basic necessities the DTI monitors include canned fish, locally manufactured instant noodles, bottled water, bread, processed milk, coffee, candles, laundry soap, detergent, and salt.
Placed under a state of calamity so far are BARMM, the province of Albay, and Pigcawayan in Cotabato. Hence, DTI said a price freeze on basic necessities in these areas is in effect.
Meanwhile, other implementing agencies of the Price Act ensure price stability and availability of supply for the products under their jurisdiction.
For instance, the Department of Agriculture (DA) is in charge of rice, corn, cooking oil, fresh, dried and other marine products, fresh eggs, fresh pork, beef and poultry meat, fresh milk, fresh vegetables, root crops, sugar, and fresh fruits while the Department of Health (DOH) takes care of drugs classified as essential.
According to the Price Act, business establishments found to have violated the price freeze will face a penalty of imprisonment for a period of one to 10 years, or fine ranging from P5,000 to P1,000,000, or both, at the discretion of the court.
The DTI said the price freeze shall be automatically lifted on their end date unless sooner lifted by the President.
In a message sent to reporters via Viber, the Trade department said, “We will continue to monitor and provide feedback on possible concerns.”
DTI warns businesses in storm areas: Heed price caps
Source: News Paper Radio
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