A resolution requesting the Local Price Monitoring Coordinating Council, through the Office of City Mayor Evelio Leonardia, to furnish the Sangguniang Panlungsod with a report on the prices of basic and prime goods from January to September, in compliance with the Fair Trade Laws of businesses, was approved by the SP Wednesday.
The resolution, authored by Councilor Wilson Gamboa Jr., said that on Aug. 28, the SP passed a resolution authored by Councilor Sonya Verdeflor, requesting the Office of the City Administrator to activate the Price Monitoring and Complaint Desk in all major public markets in Bacolod.
This is to ensure that market traders follow the suggested retail prices amidst allegations of price control and manipulation by unscrupulous traders, it said.
As a result of their price monitoring, it is but proper to furnish the SP a copy of their reports and findings, in order to assess what needs to be given attention to, and once there is monitoring of prices, it could be determined whether or not prices are still at reasonable rates, the resolution said.
With the sudden increase in inflation rate caused by the high price of fuel, it follows that the prices of basic commodities will also increase and business people could take advantage of the situation by profiteering, it said.*
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