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DTI Albay to business owners: Comply with the Price Act

LEGAZPI CITY, ALBAY (PIA)- The Department of Trade and Industry (DTI) Albay is closely monitoring business establishments in the province to ensure implementation of the automatic price control provision after the onslaught of Tropical Storm Paeng.

‘’We are reminding all concerned businesses to comply with the provisions of the Price Act wherein prices of Basic Necessities and Prime Commodities (BNPCs) are automatically frozen at its prevailing prices for the period sixty (60) days unless sooner lifted’’ DTI Albay posted in their FB page. 

here were 272 business establishments, 40 bread and flour stores, 29 supermarkets, 25 water refilling stations, 67 harware stores, and 81 wet market stores in Albay province being monitored by DTI Albay.

This is to ensure that there are sufficient and reasonably-prices basic necessities such as canned sardines, evaporated and condensed milk, coffee refill, laundry bar, detergent powder, candles salt, water and instant noodles.

This is also pursuant to the declaration of the Sangguniang Panlalawigan ng Albay (SPA), declaring Albay under the State of Calamity under provincial resolution No. 0169-2022 on Oct. 29.

‘’The automatic price control provisions of the Price Act (R.A. 7581) is now in effect ’’DTI Albay reiterated on its FB page. 

Republic Act No. 7581 is ‘’an act providing protection to consumers by stabilizing the prices of basic commodities and by prescribing measures against undue price increases during emergency situations and like occasions.’’

At least P5,000.00 up to P1 million and or imprisonment of one year up to 10 years would be the penalties of such violation against the price freeze.

About the Author

Cyryl Montales

Writer PIA/Albay

Region 5

Amor Fati

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