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Price freeze imposed in Cebu

April 20,2016 - 09:46 PM

THE Department of Trade and Industry (DTI) has imposed a price freeze on basic necessities in Cebu and Bohol following the declaration of a state of calamity in each province due to the intense heat caused by the El Niño phenomenon.

Asteria C. Caberte, DTI 7 director, said “a price control is in effect for the duration of the condition that brought it about but not more than 60 days.”

“As contained in Section 6 of RA 7581 otherwise known as the Price Act, a price freeze is automatically implemented as a preventive measure in order to thwart overpricing of goods such as processed milk, canned goods, noodles, coffee, laundry soap and detergent during times of calamities,” she said in a statement.

The Price Act lists the basic necessities assigned to the DTI. These are canned fish and other canned marine products, processed milk, coffee, instant noodles, laundry soap, detergent and bottled water.

Assigned to the Department of Agriculture (DA) are rice, corn, cooking oil, fresh eggs, fresh pork/ beef and poultry meat, fresh milk, fresh vegetables, root crops, sugar, fresh/ dried and other marine products; while assigned to Department of Environment and Natural Resources (DENR) are firewood and charcoal; and the

Department of Health (DOH) – drugs classified as essential by DOH.

Under the law, any retailer found selling more than the listed prevailing prices will be fined up to P1 million or imprisoned for a maximum of 10 years.

Violators should be reported to the DTI regional or provincial offices.

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