NPCC retains price freeze
The National Price Coordinating Council (NPCC), chaired by the Department of Trade and Industry (DTI), recommends to retain the price freeze over basic necessities after a meeting held today at the Board of Investments Building in Makati City.
Reports presented by the Departments of Agriculture, Energy, Health, Environment and Natural Resources, and the DTI reflect stable prices and adequate supply of basic goods before the State of National Emergency was declared and even now while it is still in effect.
“For the past few months, we have been observing that competition is at play even in the Mindanao region. Seeing stability in the market amidst the declaration of State of National Emergency, the Council is recommending a status quo on the implementation of price freeze,” DTI-Consumer Protection Group (CPG) Undersecretary Atty. Teodoro C. Pascua says.
It can be recalled that Proclamation No. 55 was issued by the President declaring the entire country under State of National Emergency due to lawlessness in Mindanao.
Due to this, price freeze over basic goods is automatically implemented pursuant to Republic Act (RA) No. 7581 or the Price Act, as amended by RA 10623. This is in effect for sixty (60) days for basic goods, while fifteen (15) days for household LPG and kerosene, from the date of declaration or until sooner lifted by the President.
“Price freeze on basic goods remains to be in effect except for the 15-day price freeze on household LPG and kerosene which already ended last 19 September 2016. With respect to Batanes, price freeze on all basic goods are still in effect due to the declaration of State of Calamity following the onslaught of typhoon Ferdie,” Undersecretary Pascua emphasizes.
The DTI, DA, DOH, DOE and the members of the NPCC will continue its prices and supply monitoring activities to ensure consumers’ access to reasonable goods in the market.
The DTI enjoins the retailers to comply with the price freeze while consumers are advised to be guided by the price freeze list in their respective areas in making their purchases.
Penalties for violation against the price freeze include at least the imposition of fine of P5,000.00 up to P1,000,000.00 and/or imprisonment of one (1) year up to ten (10) years.
The price freeze for products under basic necessities is up to 03 November 2016, unless otherwise ordered by the President.
For more information on the price freeze list and/ or to report retailers that sell above the frozen prices and SRPs, call the DTI Direct 751.3330 / 0917.8343330 or visit the DTI website, www.dti.gov.ph