Aquino orders DTI to avert price spikes in #RubyPH areas

MANILA, Philippines – President Benigno Aquino III on Thursday, December 4, ordered the Department of Trade and Industry (DTI) to help deter a spike in the prices of basic goods in areas expected be hit by Typhoon Ruby.

Aquino gave the directive at the meeting of the National Disaster Risk Reduction and Management Council (NDRRMC) in Camp Aguinaldo, after learning that some residents in areas forecast to be affected by the typhoon were already panic buying.

Energy Secretary Carlos Jericho Petilla, former Leyte governor, told the President that some supermarkets in Leyte – tagged as among the Typhoon Ruby critical areas – have exhausted their supplies due to panic buying. 

The President directed  DTI officials to “deploy now” rolling stores – government stores selling basic goods at discount prices usually positioned in depressed areas – to communities to be hit by the typhoon to ensure the continued supply of low-priced goods.

“There’s still time,” Aquino said in Filipino. 

Tacloban Vice Mayor Jerry Yaokasin said in a phone interview that big retail markets in the city are still following the DTI’s suggested retail price (SRP). He also cited the difference between the situation in Tacloban now and in the case of super typhoon Yolanda last year.

“This is different from Yolanda because people are buying before, not after, the calamity,” Yaokasin said.

At the NDRRMC meeting, Aquino asked whether the DTI was allowed to impose price controls on basic goods before calamity struck, given what he called “unusual price hikes.” 

“Can’t we do the monitoring [of prices] already?” he asked.

According to Republic Act 7581 or the Price Act, automatic price controls can only be imposed when an area is: 

• Under a state of calamity
• Under an emergency
• If the writ of habeas corpus is suspended in the area
• Under martial law
• In a state of rebellion or state of war

Aquino presided the hours-long meeting where he received updates on preparations made by various agencies, and gave instructions. – Bea Cupin/Rappler.com