DTI implements prize freeze

SHOW-CAUSE order will be issued by the Department of Trade and Industry (DTI) for establishments that increased their product prices even after a price freeze was implemented following the declaration of Martial Law in Mindanao last Tuesday, May 23.

Price Freeze is being enforced in places wherein the president of the state has declared state of emergency, state of calamity or disaster, state of rebellion, state of war, suspension of privilege of writ of Habeas Corpus, and Martial Law.

As per Republic Act 7581 or the Price Act of the Philippines, “prices of basic necessities are automatically frozen at their prevailing prices, which shall be the average price of the basic necessity within a (1) month from the occurrence of the conditions brought about by the Declaration of Martial Law; or place under automatic price control.”

According to DTI Davao Regional Director Maria Belenda Ambi, prices for benchmarking will be based on the latest monitored prices of the basic necessities as per the last monitoring of the field offices.

“DTI offices will publish prevailing prices based on their last monitored price and that will be the benchmark. Regular monitoring will be done and if there are increases, a show cause order will be issued for the establishment to respond (and we’ll check) if the reason is acceptable or not,” Ambi said.

She added, their office is currently working on a centralized pricelist per province but they have yet to finish consolidation.

Unless the declaration be earlier lifted by the president, the price freeze for the basic necessity goods, including household LPG and kerosene, will last for 60 days or until Martial Law is effective in the area.