DTI reminds WV businesses of price freeze on basic goods

Share on facebook
SHARE THIS STORY
Share on twitter
TWEET IT
Share on email
Email
  • CHERYL G. CRUZ

Department of Trade and Industry Region 6 OIC director Ermelinda Pollentes reminded businesses and traders Thursday, Nov. 3, to comply with the price freeze on basic necessities in Western Visayas and other areas declared under a state of calamity by President Ferdinand Marcos Jr.

When a state of calamity is declared in a region, prices of basic necessities are automatically frozen at their prevailing value for 60 days in accordance with Republic Act 7581, or the Price Act, as amended, Pollentes said.

She said that DTI monitoring teams were already deployed to check the supermarkets and grocery stores in the region, including in Negros Occidental, to ensure the availability of supply and the price stability.

DTI6 has intensified the monitoring of prices and supply of basic necessities and prime commodities (BNPC), and ensures the submission of daily situational monitoring reports from provincial offices, Pollentes said in a statement, adding that although the BNPC prices are stable, demand has significantly increased, particularly in Antique.

The Department of Trade and Industry (DTI) reminds businesses and traders to comply with the price freeze on basic necessities in Western Visayas and other areas declared under a state of calamity by President Ferdinand Marcos Jr. | Photo from DTI FB Page

“This is due to bulk-buying by private organizations and local government units for relief operations, as well as retailers and consumers, especially of instant noodles, canned sardines, and bread,” she said.

DTI6 also identified measures to cushion the impact of Tropical Storm Paeng on micro, small and medium enterprises by linking them with financing institutions and suppliers of raw materials for sustainable livelihood, she added./CGC

OPINIONS