CITY OF SAN FERNANDO -- Prices of basic commodities in Central Luzon are frozen and under price control measures following its inclusion in the four regions placed under state of calamity.
In a statement to SunStar Pampanga, the DTI-Central Luzon said that with the declaration of a state of calamity in Ilocos Region, Cagayan Valley, and Central Luzon, price control measures under the Price Act will apply for basic needs and prime commodities sold in the market.
The DTI-Central Luzon noted that under Proclamation No. 593 signed by President Rodrigo Duterte on September 25, Ilocos Region, Cagayan Valley, Central Luzon, and the Cordillera Administrative Region were placed under a state of calamity to “hasten the rescue, recovery, relief and rehabilitation efforts of the government and the private sector...” in light of the damage wrought by Typhoon Ompong to the abovementioned areas in the country.
The Proclamation was also issued to “provide basis for price control measures which can mitigate the impact to affected populations.” Under Republic Act No. 7581 or the Price Act, when there is a declaration of a state of calamity, automatic price control or “Price Freeze” is applied to basic needs and prime commodities for a period not less than 90 days, or until the President lifts the proclamation. Under the Price Act, prices of basic needs and prime commodities are held at prevailing prices, or the average price for the present month, when there is a declaration of a state of calamity.
The DTI and its provincial offices are continuously and regularly monitoring public markets, groceries, supermarkets and stores to ensure the steady supply of basic goods and stable prices. The DTI is also tasked to ensure that Automatic Price Control or Price Freeze is being implemented.
Under the Price Act, violations of the Price freeze, including hoarding, profiteering and cartel, are punishable by law, with a maximum penalty of P1,000,000 and imprisonment of up to 15 years.