(REUTERS file photo)
MANILA, Philippines — The Department of Trade and Industry (DTI) and manufacturers of several basic commodities have reached a consensus to suspend a price increase until the end of the year, Secretary Alfredo Pascual said in a press conference on Wednesday.
“Nagkaroon ng consensus na hold off muna until the end of the year,” Pascual said, noting that some manufacturers who had initially submitted their appeal already withdrew their request.
(There was a consensus to hold off a price increase until the end of the year.)
The companies that canceled their request were manufacturers of bottled water, condiments, bread, salt, and soap.
Pascual reiterated that the requests were made in response to rising product production costs.
The DTI added that is scheduled to meet with canned sardines manufacturers on Friday.
“We’re meeting with canned sardine manufacturers tomorrow because we continue to appeal that there will be no SRP (suggested retail price) until the end of the year,” said DTI Assistant Secretary Mary Jean Pacheco.