NO overpricing was reported in Cebu stores and malls but the Department of Trade and Industry (DTI) is sending inspection teams to Bohol , where the flow of goods and trade in several areas has been restricted or cut off by landslides, broken bridges and roads.
A price freeze was implemented by the DTI in Cebu and Bohol following the Oct. 15 earthquake.
“So far, there’s no problem (in Cebu). No stores have been found violating the price range we have provided,” DTI provincial chief Nelia Navarro said, a day after her teams went around the province to monitor prices of basic and prime commodities.
A visit by Cebu Daily News at one of Cebu City’s markets showed that commodities were priced within the range provided by the DTI.
Coffee and detergent were sold at P17 to P19 per pack while canned sardines are sold at P13 to P14.
There were also no reported cases of hoarding of basic products, Navarro added.
The monitoring extends to Danao City in northern Cebu to Carcar City in the south, with another team assigned to cover the rest of the province.
“We need everyone’s cooperation because even if one or two items are violated, the business establishment will face administrative fines of up to P1 million or a maximum of 10-year imprisonment or both,” Navarro said.
“Mall owners assured there is no problem with supply. They are even stocking up for the holidays,” Navarro said.
The price freeze issued by the DTI is based on the Price Act or Section 6 of Republic Act 7581 in which prices of basic necessities in an area declared under calamity status are frozen at prevailing rates.
Nearly all commercial business establishments in Metro Cebu were closed following last Tuesday’s earthquake.
Business owners have yet to come out with an estimate over their losses following two days of closure.