News Release: DTI enforces price freeze on basic goods BY: VENUS MAY H. SARMIENTO DAGUPAN CITY, Dec. 5 (PIA) – The Department of Trade and Industry has enforced a price freeze on basic goods in Pangasinan pursuant to President Aquino’s declaration of state of national calamity. Director Peter Mangabat said the price freeze is a mitigating measure to protect consumers from undue price increases while the country is reeling from the effects of Supertyphoon Yolanda. “We ask retailers (to refrain from) taking advantage of the present situation by increasing the prices of basic necessities and prime commodities which are displayed or offered for sale. Prevailing prices should not go beyond the suggested retail prices,” Mangabat said. Basic commodities include canned sardines, processed milk, coffee, detergent and bath soaps, candles, bread, salt, flour, processed or canned pork and beef, instant noodles, vinegar, patis, soy sauce, batteries, construction materials and electrical supplies. Mangabat warned retailers to observe the price freeze on all brands of basic commodities to avoid sanctions and penalties imposed under the Price Act (RA 7581), which is a maximum of 10 years imprisonment and fine of P1 million. (MCA/VHS PIA1-Pangasinan) - See more at: news.pia.gov.ph/index.php?article=2461386064327#sthash.0gNuOQ07.dpuf
Posted on: Thu, 05 Dec 2013 01:57:20 +0000