ANGELES CITY– The Department of Trade and Industry (DTI) here said a freeze on the prices of basic and prime goods remains in effect in the entire Nueva Ecija and Tarlac provinces as well as in San Miguel, Bulacan which were placed under states of calamity caused by Typhoon Santi last month.
DTI Regional Director Judith Angeles explained that in areas under a state of calamity, an automatic price control is implemented under Section 6 of Republic Act 7581 otherwise known as the Price Act. She said such control covers various basic goods such as processed milk, canned goods, coffee, laundry soap, detergent, candles, bread, and salt.
“The prices of such goods should be at levels prior to the calamity. The price control, however, does not extend to agricultural products,” she stressed. Angeles noted that “upon declaration of state calamity by the local government, a price control can be implemented for the duration of 60 days unless lifted sooner by either the local legislative council or the President.
“Also, local governments and provincial DTI offices can adjust prices to reflect additional operational costs or the costs of bringing the products in the market,” she added. But Angeles said that such adjustment 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.
Angeles warned price freeze violators that they could be charged with profiteering that could impose fines of up to P1 million or imprisonment of one to fi ve years. “In case of hoarding, those found guilty could be fined as much as P2 million or jail terms of five to 15 years,” she also said.
