Price freeze remains in 3 CL areas hit by Santi

ANGELES CITY , Philippines   â€“ Prices of basic commodities remain frozen in Nueva Ecija and Tarlac provinces as well as in the town of San Miguel in Bulacan, which were placed under a state of calamity due to Typhoon Santi last month, the Department of Trade and Industry (DTI) said over the weekend.

DTI regional director Judith Angeles said price control is automatically implemented in areas placed under a state of calamity as stipulated under the Price Control Act.

Angeles said the price control covers basic goods such as processed milk, canned goods, coffee, laundry soap, detergent, candles, bread, and salt.

“The prices of such goods should be at a level prior to the calamity. The price control, however, does not extend to agricultural products,” she said.

Angeles said the price control would remain in effect for 60 days unless lifted sooner by either the local legislative council or the President. 

“Local governments and provincial DTI offices can adjust prices to reflect additional operational costs or the costs of bringing the products to the market,” she said.

Angeles said such adjustments would still need the approval of either the National Price Coordinating Council or the President, and that the adjusted prices must be published in newspapers of national circulation.

She said violators of the price control law face a fine of up to P1 million or imprisonment of one to five years, adding that hoarders face a P2-million fine and a prison term of five to 15 years.