Photo courtesy of DTI.
QUEZON CITY (PIA) — The Department of Trade and Industry (DTI) has intensified its efforts to monitor prices and prevent profiteering, especially in areas affected by severe tropical storm Kristine (Trami).
Secretary Cristina Aldeguer-Roque said these are crucial measures to protect consumers in storm-affected areas.
She also pointed out the DTI’s proactive approach to facilitating economic recovery for the affected communities.
She emphasized that these efforts of the DTI are aligned with the call of President Ferdinand Marcos Jr. for swift and decisive action to mitigate the effects of the disaster.
“Under President Marcos Jr.’s administration, the DTI reaffirms its commitment to consumer protection during these challenging times. The DTI’s regional and provincial offices actively monitor prices and supply levels of essential products in all affected areas,” Aldeguer-Roque said.
“The DTI’s proactive approach aims to ensure that consumers are shielded from price hikes and that basic necessities remain accessible. The DTI’s efforts also reflect a strong dedication to maintaining market stability and safeguarding the interests of consumers throughout the country,” she added.
The DTI chief said when a state of calamity is declared, Republic Act No. 7581, or the Price Act, as amended, mandates a 60-day automatic price freeze on products under its purview, such as canned fish, locally manufactured instant noodles, bottled water, bread, processed milk, coffee, candles, laundry soap, detergent, and salt. This means these basic necessities are frozen at their prevailing prices, she said.
In addition to the DTI, other implementing agencies of the Price Act are responsible for ensuring price stability and sufficient supply within their respective jurisdictions. For instance, the Department of Agriculture oversees the prices and supply of rice, corn, cooking oil, fresh, dried, and other marine products, fresh eggs, fresh pork, beef and poultry meat, fresh milk, fresh vegetables, root crops, sugar, and fresh fruits. Meanwhile, the Department of Health is responsible for monitoring the prices of essential drugs.
“The DTI’s regional and provincial offices are deploying personnel to monitor the market, verify availability of goods, and enforce compliance with the price freeze and guard against profiteering during this challenging time,” Aldeguer-Roque said.
She urged all consumers to remain vigilant and report any violations of the established prices immediately.
To facilitate enterprise recovery, the DTI also rolled out earlier a P2 billion loan assistance program for micro, small, and medium enterprises (MSMEs) that were hit by the storm. (PIA DMD)
