CITY OF SAN FERNANDO — The Department of Trade and Industry (DTI) here said price freeze has been implemented not only in specific areas seriously hit by Typhoon Ompong, but in the entire four regions north of Metro Manila.
DTI regional director Judith Angeles said Pres. Duterte has issued Proclamation No. 593 enforcing price freeze in Central Luzon, Ilocos, Cagayan and Cordillera regions “to hasten the rescue, recovery, relief and rehabilitation efforts of the government and the private sector in light of the damages caused by Typhoon Ompong.”
The price freeze covers all basic goods and prime commodities as classified by the DTI, the Philippine Information Agency (PIA) here said.
Angeles said the price freeze is covered by Republic Act No. 7581 otherwise known as the Price Act covering a period not less than 90 days, or until the President lifts the proclamation.
Prices of basic needs and prime commodities are held at prevailing prices, or the average price for the present month, Angeles said.
“Our regional and provincial offices are continuously and regularly monitoring public markets, groceries, supermarkets and stores to ensure the steady supply of basic goods and stable prices,” she added.
Violations including hoarding, profiteering and cartel practices are punishable by law, with a maximum penalty of P1 million and imprisonment of up to 15 years, Angeles warned.
