DTI still implementing price freeze

By Charlene Cayabyab
Tuesday, October 18, 2011
CITY OF SAN FERNANDO — The Department of Trade and Industry (DTI) in Central Luzon said a freeze in the prices of basic goods is still in effect in seven areas in the region, which have been declared under a state of calamity due to typhoons Pedring and Quiel.
The seven areas are: Olongapo City, Aurora, Bataan, Bulacan, Nueva Ecija, Pampanga, and Tarlac.
DTI-Central Luzon information officer Wilfred Carbonell said that under a state of calamity, an automatic price control is implemented as contained in Section 6 of Republic Act 7581 otherwise known as the Price Act as a preventive measure to avoid chaos that may result from overpricing of basic goods during times of calamities.
Hence, the prices of basic goods in the mentioned areas excluding agricultural products should remain in their pre-Pedring levels.
Carbonell added that upon declaration of state calamity by the local government, a price control can be implemented for the duration of 60 days unless lifted sooner by either the local council or by the President of the Philippines.

Also, local governments and provincial DTI offices can adjust prices to reflect additional operational costs or the costs of bringing the products in the market.
However, this still needs the approval of either the National Price Coordinating Council or the President.
The adjusted prices must be published in newspapers of national circulation.
Carbonell warned businessmen of the penalty for profiteering in prize freeze areas up to P1 million in fines and/or imprisonment of one to five years.
If the case is hoarding, violators can face up to P2 million in fines and/or imprisonment of five to fifteen years.
Source: http://www.sunstar.com.ph/pampanga/local-news/2011/10/18/dti-still-implementing-price-freeze-185612