DTI steps up monitoring of retailers’ price regulations compliance
The Department of Trade and Industry (DTI) has intensified its price and supply monitoring operations to ensure retailers’ compliance with price regulations.
With its relentless price and supply monitoring, the DTI is also sending strong warning against profiteers and hoarders.
The department, through its consumer protection group, recently conducted price monitoring operations that covered 10 supermarkets and other retail outlets in Taytay, Rizal. Of the 10 supermarkets monitored, two were found in violation of the regulations and the price freeze in the province.
The two supermarkets were issued with notices of violation for selling basic necessities at prices above the prevailing frozen rates and for selling items without proper price tags. They were given 48 hours to provide an explanation for their non-compliance with the price regulations.
“The DTI’s relentless price and supply monitoring operations is a strong warning against possible profiteers and hoarders and an assurance to our countrymen that we will continue to uphold consumer protection amidst the damages caused by Severe Tropical Storm Paeng,” lawyer Ann Claire C. Cabochan, officer in charge of the DTI’s consumer protection group and leader of the monitoring teams, said in a statement.
Rizal province was among the areas placed under a state of calamity due to the onslaught of typhoon Paeng (international name: Nalgae) earlier this month.
Under the Price Act, prices of basic necessities are automatically frozen at their prevailing prices for 60 days in areas placed under a state of calamity.
Under the law, penalties for price manipulation include imprisonment for five to 15 years, and fines ranging from ₱5,000 to ₱2 million.
Meanwhile, those found violating the price ceiling face prison time of one year to 10 years, as well as fines ranging from ₱5,000 to ₱1 million
The DTI also conducted inspections of 32 retail firms in the province, issuing notices of violations to nine of them for selling uncertified products including ceramic plumbing fixtures, low carbon steel wires, snap switches, and socket-outlets, among others.
The trade department sealed more than ₱368,000 worth of these products, preventing their sale in the market.
From January to October this year, the DTI said it had already monitored 2,085 retail firms across the country, sealing 213,212 pieces of non-conforming products with an estimated retail value of ₱64.8 million.
