DTI reminds of price freeze in areas under state of calamity

By on December 8, 2014

Typical market scene in the Philippines (Hulagway via Flickr / Wikipedia)
Typical market scene in the Philippines (Hulagway via Flickr / Wikipedia)

MANILA — The Department of Trade and Industry (DTI) is reminding retailers to implement price control in areas declared under state of calamity.

In a text message, DTI Undersecretary Victorio Mario A. Dimagiba said price freeze shall be automatically implemented in state of calamity areas, which means prices of basic necessities which include canned sardines, processed milk, bottled water, locally manufactured instant noodles, coffee, detergent soap, bread, candles, salt, rice, corn, cooking oil, fresh pork, fresh beef, fresh poultry meat, fresh and dried fish and other marine products, fresh egg, fresh milk, fresh vegetables, fresh fruits, root crops, and sugar shall maintain for the next 60 days.

Basic necessities now also include household liquefied petroleum gas (LPG) and kerosene which shall maintain their prices for the next 15 days.

The Republic Act 7581 or the Price Act penalizes illegal price manipulation such as profiteering, imposing imprisonment of five years up to fifteen years and administrative fine of Php 5,000 up to Php 1 million.

Areas which have declared state of calamity include Albay, Camarines Sur, Catanduanes and Masbate.