Iloilo City Mayor Jose Espinosa III said that he will need to consult with the Department of Trade and Industry (DTI) if he will reactivate the Local Price Coordinating Council (LPCC).
The council is tasked to monitor and stabilize the price increase of the products in the market. The price surge started after the implementation of Tax Reform for Acceleration and Inclusion (Train) law.
“Now, we are monitoring, price monitoring because of the inflationary attacks on our business kag sa aton nga (and to our) depreciation,” Espinosa said.
Recently, DTI instructed all of the local government units to activate the LPCC. Espinosa said that they will reactivate the council immediately.
“Yes, we will do it immediately as much as possible,” Espinosa said.
According to the Price Act of 1992, the reorganization of the LPCC is a prerequisite after newly assigned officials are designated in which, the local chief executive is assigned as the head of council while DTI will be the secretariat and vice chairman.
The council comprises of representatives from the National Economic and Development Authority, Department of Agriculture, Health, Environment and Natural Resources, Transportation and Communication and Justice, Science and Technology, Philippine Statistics Authority including the private sectors and consumers’ group. (Carolyn Jane Abello)