The Department of Trade and Industry (DTI) over the weekend issued a price list of basic goods in calamity-stricken areas that retailers may not sell over, effectively clamping on a price freeze following President Aquino’s declaration of a state of national calamity last week. AFP PHOTO
The Department of Trade and Industry (DTI) over the weekend issued a price list of basic goods in calamity-stricken areas that retailers may not sell over, effectively clamping on a price freeze following President Aquino’s declaration of a state of national calamity last week.
On the DTI list were seven canned sardine brands ranging in price from P12.15 to P14 per 155-gram can; sweetened condensed milk, P46.45 to P61 per 300-milliliter can; evaporated filled milk, P33.50 to P49 per 370 ml to 410 ml; powdered filled milk, P41 to P71.50 per 150- to 160-g pouch; coffee refill, P16.25 to P39.50 per 25- to 50-g pack; detergent and laundry soap, P17.40 to P44 per 380 g to 420 g; pan de sal, P22.50 for 10 pieces of Pinoy Pan de sal; and P37 to P57.50 per Pinoy Tasty loaf.
The price caps apply to supermarkets, wet markets and groceries in Tacloban City; Catbalogan City, Samar; Iloilo City; Roxas City; Kalibo, Aklan; Baler, Aurora; Iligan City; Lanao del Norte, and the National Capital Region.
A price freeze means the selling price of a basic item shall remain at its prevailing level as of President Aquino’s issuance of Proclamation No. 682 and shall remain so until the state of national calamity is lifted.
“[The freeze was necessary] because with the scale of the calamity, there was a huge effect on the supply of goods that may affect prices even in areas not hit by the calamity,” Trade Secretary Gregory L. Domingo explained earlier.
Republic Act No. 7581, or the Price Act, provides that when an area has been declared to be under a state of calamity, the prices of basic necessities shall automatically be frozen. Violators of the freeze will be liable for an administrative fine of up to P1 million and 10 years in prison.
Agriculture and fuel products will also be included in the price freeze although these were not on the DTI notice yet.
On agricultural products, Agriculture Director Leandro H. Gazmin said last week the price freeze covered NFA rice, eggs, sugar and pork.