DTI orders price freeze in Metro Manila amid state of calamity
A customer buys vegetables at a market in Manila on October 5, 2018. (Photo by TED ALJIBE / AFP)
MANILA, Philippines — The Department of Trade and Industry (DTI) on Wednesday ordered a price freeze on basic necessities in Metro Manila, after its declaration of a state of calamity due to the effects of Super Typhoon Carina and the southwest monsoon (habagat).
“The price freeze, effective immediately, aims to protect consumers from unjust price increases during this time of crisis,” said DTI Secretary Fred Pascual in a statement.
“We are committed to ensuring that basic goods remain affordable and accessible to all affected residents,” he added.
READ: LIVE UPDATES: Typhoon Carina
According to Pascual, the price freeze will be in effect during the state of calamity. He vowed that the DTI will closely coordinate with its Metro Manila office to monitor the situation and guarantee the availability of essential goods.
Article continues after this advertisementThe DTI said the price control includes essential goods such as rice, corn, bread, fresh vegetables, roots crops, pork, beef, poultry, eggs, milk, coffee, sugar, cooking oil, salt, laundry soap, detergent, firewood, charcoal, candles, and certain medicines classified as essential by the Department of Health.
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Pascual also issued a stern warning to businesses that may attempt to exploit the situation.
“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.”
Under the Price Act, prices of basic necessities are automatically frozen at their prevailing prices for sixty days once a state of calamity in an area.
Under the same law, penalties for price manipulation include imprisonment five to 15 years, with fines ranging from ₱5,000 to ₱2 million.
Meanwhile, those found violating the price ceiling will face prison time of one year to 10 years, as well as fines ranging from ₱5,000 to ₱1 million.
The government agency is encouraging the public to report any overpricing or violations to the DTI Consumer Care Hotline at 1-384 or to email them at [email protected].
Support Typhoon Carina Victims
The Inquirer is extending its relief and fund drive to help families affected by Typhoon Carina. Donate to Inquirer Foundation Corp. at BDO Current Account No: 007960018860. For inquiries, email [email protected].
