^

DTI warns retailers on price caps on products for Holy Week break

Louella Desiderio (The Philippine Star) - March 29, 2015 - 12:00am

MANILA, Philippines - As many Filipinos are expected to go on trips during the Holy Week break, the Department of Trade and Industry (DTI) intends to monitor products used by travelers to ensure such are sold within their price caps.

“We will ensure that the prices of canned goods and candles in public places of assemblies for trips such as bus stations are sold within their suggested retail prices (SRPs),” Trade undersecretary Victorio Mario Dimagiba said.

While the DTI is aware that retailers in bus stations have to earn from selling bottled water at higher prices, he said it is important for prices to still be reasonable.

“Moreover, although packs and cans of biscuits and cup noodles are not in the basic and prime goods’ list, we will also check on the affordability and reasonableness of their prices,” he said.

Apart from bus stations, the DTI would also monitor grocery stores and supermarkets to check on prices of basic necessities and prime commodities.

The DTI urges owners and operators of said establishments to consistently comply with the specified SRPs for basic and prime goods and assist the consumers in their purchases.

The January list of SRPs (for) these products still stands and, as of the moment, there are no requests for price adjustments from the industries, to which the retailers are expected to observe these prices,” Dimagiba said.

The DTI, through its Fair Trade and Enforcement Bureau, regularly monitors the price and supply of basic necessities and prime commodities under its jurisdiction.

These products include canned fish and other marine products, processed milk, coffee, laundry soap, detergent, candles, bread, salt, processed and canned pork, processed and canned beef and poultry meat, vinegar, patis, soy sauce, toilet soap, paper, school supplies, cement, clinker, galvanized iron (GI) sheets, hollow blocks, construction supplies, batteries, electrical supplies, light bulbs, and steel wires.

A retailer in violation of Republic Act 7581 or the Price Act through illegal acts of price manipulation such as profiteering, faces an administrative fine of up to P1 million subject to the circumstances provided after due notice and hearing.

The retailer also faces imprisonment of up to 15 years and a maximum fine of P2 million.

To ensure fair competition, SRPs which take into account costs of production, distribution and profit margins of retailers and distributors are issued by manufacturers.

For a list of SRPs for basic necessities and prime commodities, consumers could visit the DTI website at www.dti.gov.ph.

To report complaints on prices, consumers may call the DTI at 751-3330 or 0917-8343330.

BASIC DEPARTMENT OF TRADE AND INDUSTRY DIMAGIBA DTI FAIR TRADE AND ENFORCEMENT BUREAU HOLY WEEK PRICE ACT PRICES REPUBLIC ACT VICTORIO MARIO DIMAGIBA
  • Latest
  • Trending
Latest
Are you sure you want to log out?
X
Login

Philstar.com is one of the most vibrant, opinionated, discerning communities of readers on cyberspace. With your meaningful insights, help shape the stories that can shape the country. Sign up now!

FORGOT PASSWORD?
SIGN IN
or sign in with