The Department of Trade and Industry (DTI) in Bicol reminded businesses to comply with a 60-day price freeze on essential goods in areas declared under a state of calamity following severe flooding in the wake of severe tropical storm ‘Kristine.’
DTI-Bicol Director Dindo Nabol emphasized that under Republic Act No. 7581, or the Price Act, an automatic price freeze on basic necessities takes effect in calamity-hit regions.
The price freeze is currently imposed in the provinces of Albay, Camarines Sur, Camarines Norte, and specific municipalities in Sorsogon, including Bulan, Juban, Donsol, Irosin, and Matnog. These areas were heavily impacted by the recent floods, leading to limited access to essential resources.
Nabol urged local businesses and consumers to support one another by adhering to fair pricing during this challenging period.
The DTI distributed advisories to markets, supermarkets, grocery stores, bakeries, and water refilling stations, reminding them to comply with the Price Act. Enforcement teams have been deployed across affected areas to monitor adherence.
The commodities covered under the DTI’s jurisdiction include canned sardines, milk, coffee refills, laundry products, candles, bread varieties (Pinoy Tasty and Pinoy Pandesal), salt, bottled water, and locally manufactured instant noodles.
Albay acting Governor Baby Glenda Ong-Bongao previously requested DTI intervention as essential goods in Albay and other parts of Bicol are running low due to disrupted supply routes along Maharlika Highway.
The flooding made several roads impassable, further delaying the delivery of food, water, and petroleum products.
Nabol warned that businesses exploiting the situation by overpricing could face severe penalties, including imprisonment of one to 10 years and fines ranging from P 5,000 to P 1-million.
He also clarified that while DTI regulates several basic commodities, other agencies monitor additional goods.
The Department of Agriculture oversees agricultural products, while the Department of Environment and Natural Resources, Department of Health, and Department of Energy monitor specific items and services within their sectors.
