MANILA, (PIA) -- The Department of Trade and Industry (DTI) is taking proactive measures to address potential price hikes due to El Niño.
Secretary Fred Pascual met with leading manufacturers and retailers during a "Kapihan" session to discuss the possibility of a voluntary price freeze on essential goods.
Manufacturers and retailers expressed openness to the proposal, acknowledging the challenges El Niño poses for Filipino families.
Secretary Pascual commended their collaborative spirit, emphasizing DTI's commitment to "monitoring market conditions, advocating for consumer rights, and guiding our nation through these challenges."
"This voluntary price freeze, if implemented, would benefit all Filipino consumers, not just those in calamity-declared areas," highlighted DTI Assistant Secretary Amanda Marie F. Nograles.
Officials also discussed DTI's ongoing initiatives, such as the Clark Mega Food Hub and the Nueva Vizcaya Agricultural Terminal (NVAT) Online.
These projects aim to strengthen the connection between farmers and retailers, ensuring both a stable supply and affordable prices for consumers.
Secretary Pascual reiterated DTI's commitment to balancing consumer protection with a healthy business environment: "We understand the difficulties Filipino families face due to El Niño. DTI is focused on ensuring fair prices for essential goods, protecting consumer welfare, and guaranteeing responsible business practices by retailers."
Representatives from major companies participated in the event, including Monde Nissin Corporation, Unilever Philippines, Inc., Coca-Cola Beverages Philippines, Universal Robina Corporation, Nestle Philippines Inc., Procter and Gamble Philippines, Inc., Century Pacific Food Inc., Alaska Milk Corporation, CDO Foodsphere, Nutri Asia, SM Supermarket, and Robinsons Supermarket.
It's important to note that the Price Act, enforced by DTI, already mandates an automatic price freeze on basic necessities in declared calamity areas.
This measure ensures that prices remain stable during critical times and reflects DTI's ongoing commitment to protecting Filipino consumers. (PIA-NCR)
