Price freeze up in areas under state of calamity
MANILA, Philippines –The Department of Trade and Industry (DTI) implemented a 60-day ceiling on prices of basic commodities in areas under state of calamity, beginning Tuesday, July 15.
The following areas were placed under state of calamity following the onslaught of Typhoon Glenda (Rammasun):
- Camarines Norte
- Camarines Sur
- Muntinlupa City
Non-agricultural basic necessities such as canned fish and other canned marine products, evaporated milk, condensed milk, powdered milk, coffee, laundry bar and detergent, instant noodles, bread, salt, candles, and bottled water are frozen at their prevailing prices, DTI Consumer Protection Group Undersecretary Atty. Victorio Mario A. Dimagiba, said.
Prices of agricultural basic necessities such as rice, corn, cooking oil, fresh and dried fish and other marine products, fresh eggs, pork, beef, poultry, fresh milk, fresh vegetables and fruits, root crops, and sugar are also frozen at their prevailing prices.
Also, Liquefied Petroleum Gas (LPG) and kerosene are covered by the price freeze as stated under Republic Act No.10623 or the Amended Price Act. However, prices of said products are frozen at their prevailing prices for 15 days instead of 60 days.
Only basic necessities are covered by the price freeze. Their prices must conform to the prevailing prices before the declaration of State of Calamity, and should not exceed the Suggested Retail Prices (SRPs), Dimagiba said.
As for non-agricultural prime commodities such as canned pork, beef and chicken, vinegar, fish sauce, soy sauce, bath soap, and battery, prices of these products must adhere to their respective SRPs.” Dimagiba added.
Pursuant to the Amended Price Act, penalties for violation against the price freeze include up to P1 million ($22,925.60) penalty and/or up to 10 years of imprisonment. – Rappler.com
(*$1 = P43.62)