Nancy Binay slams DTI for failing to arrest rising prices of goods

Senator Nancy Binay slammed the Department of Trade and Industry (DTI) on Tuesday for not allegedly being helpful nor proactive in addressing high inflation and the skyrocketing prices of commodities.

Binay expressed dismay over DTI’s “lack of ingenuity” in providing mechanisms to mitigate the effect of inflation on poor families.

The senator finds it is necessary to re-deploy the “rolling stores” to provide the public with access to affordable food and other basic communities particularly remote and depressed barangays.

“The last time we saw DTI’s rolling stores was in Leyte during the height of Yolanda and the Marawi conflict. Sana consistent tayo. With inflation and skyrocketing prices, at isama na natin ang mga bagyo at iba pang kalamidad, what’s keeping the government from re-deploying state-run rolling stores?” she said in a statement.

Binay stressed that the government must implement measures that will reduce the effect of inflation on low-income families.

“DTI has a commitment in ensuring that consumers have access to reasonably-priced goods,” she reminded.

The senator also pushed for stiff penalties for rolling-store scammers and those diverting rolling store goods to the black market.

The senator noted that enterprising individuals usually buy goods from state-run stores and “diskwento caravans” at lower prices but later sell them at much higher rates in the black market.

“Dapat patawan ng mabigat na parusa yung mga mananamantala. Those behind any scam by making a killing and depriving the masa of affordable goods must be strongly dealt with,” she said.

Bypassing ‘intervening layers’

Meanwhile, the senator pointed out that the DTI and the National Food Authority have the power to check and bypass the so-called “intervening layer” controlled by big businesses from farm gates to point-of-sale.

“They [DTI and NFA] can practically reduce the prices of prime and basic commodities that consumers buy in private and public markets that are significantly lower than the suggested retail prices,” she noted.

Unconditional Cash Transfer

Binay also criticized the slow pace of distribution of the Unconditional Cash Transfer (UCT), a component of the government’s Tax Reform for Acceleration and Inclusion (TRAIN) program.

The UCT aims to assist 10 million indigent households affected by the implementation of the new tax reform program. So far, only 5.3 million families are receiving the financial aid.

Binay also backed the suggestion of some economists to increase the monthly UCT from the current P200 to help families cope with high prices.   /vvp

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