DTI mulls new SRP for select products

MANILA, Philippines — The Department of Trade and Industry (DTI) is studying another implementation of suggested retail prices (SRP) on select products, an official said Thursday amid the fresh round of increases in prices of certain commodities.

“Now, kung magkakaroon po ba ng bagong SRP list ay pinag-aaralan pa po natin ‘yan,” DTI Assistant Secretary Ann Claire Cabochan shared in a Laging Handa public briefing.

(Now, if there will be a new SRP list, we are studying that.)

“‘Pag nagbibigay po tayo ng SRP bulletin na may price adjustment ay alam naman po natin ang magiging epekto din niyan kasi ho tataas ‘yung presyo kaya we have to study du’n sa mga manufacturers na nagbigay,” she added.

(When we issue an SRP bulletin with price adjustment, we know its effect because prices will increase so we have to study it with the manufacturers.)

Among the products that are under review for price adjustment are canned sardines, processed milk, and canned meat beef.

Cabochan was questioned if a price cap or freeze should be implemented to control the costs of commodities.

She answered that under Republic Act 7581 or the Price Act, there are mechanisms that could compel the government to implement a price freeze such as a declaration of a state of emergency.

“As of this time… hindi pa natin nakikita ‘yung (we do not see the) circumstances that would give rise to a declaration of a state of emergency,” the official said.

“But patuloy po natin ‘yang mino-monitor kung magkakaroon po ng (we continue to monitor if there would be) circumstances that would prompt such declaration,” Cabochan explained.

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EDV