• CHRYSEE G. SAMILLANO
A resolution enjoining vendors and business owners to adhere to the DTI suggested retail price (SRP) amidst projected commodity increases, mobilizing the Local Price Coordinating Council (LPCC) of Bacolod City, was approved by the Bacolod Sangguniang Panlungsod Wednesday.
The resolution authored by Councilor Em Ang said Republic Act No. 7581, or the Price Act, as amended by R.A. No. 10623, was enacted to ensure the availability of basic necessities and prime commodities at reasonable prices at all times, specifically criminalizing illegal acts of price manipulation such as hoarding, profiteering, and the formation of cartels.
R.A. No. 7394, or the Consumer Act of the Philippines, strictly protects the public against deceptive, unfair, and unconscionable sales acts and practices, it said.
The Department of Trade and Industry (DTI) recently announced that while the prices of essential goods will be held steady until April 15, the public should anticipate authorized, regulated prices adjustments on certain commodities starting April 16, following stringent reviews and consultations with manufacturers, the resolution said.
Despite global economic pressures and international fuel fluctuations, national economic and agricultural agencies have assured the public that the domestic supply of food and essential goods remains stable and highly sufficient, negating any basis for panic buying, it said.
There is an urgent need to protect the consuming public of Bacolod City, particularly the marginalized and low-income sectors, from unscrupulous traders, middlemen, and retailers who may exploit this impending DTI-approved adjustments as a smokescreen to implement arbitrary, unjustified, and illegal price hikes, the resolution said.
The SP is therefore strongly urging all supermarkets, wet markets, grocery stores, pharmacies, and retail establishments within Bacolod City to strictly adhere to the authorized price increments and the prevailing suggested retail prices (SRP) published by DTI.
It also directed the Local Price Coordinating Council, acting in concert with the City Legal Office, market supervisors, and the Philippine National Police (PNP), to conduct aggressive, unannounced, and regular price monitoring and inspection campaigns across all commercial hubs and public markets to deter overpricing, tampering of weighing scales, and non-compliance with law.
The SP firmly warns all business owners and vendors that any individual or entity found engaging in hoarding, profiteering, or exceeding the DTI- mandated price ceilings will face the full force of the law, including fines as prescribed by the Price Act.
Upon verified reports and recommendations by the LPCC or the DTI, the Office of the City Mayor is strongly urged to initiate administrative proceedings against erring establishments which may result in the immediate suspension or permanent revocation of their Mayor’s Permit and License to Operate.*
