BACOLOD City Councilor Wilson Gamboa Jr. urged the Local Price Coordinating Council (LPCC) to furnish the City Council with the prices monitored on the basic and prime goods in the city.
Gamboa said the LPCC should submit the data from January to September 2018 in compliance with the Fair Trade Laws (FTLs) of business.
“With the increase of inflation rate caused by the high price of fuels, it follows then the price of our basic commodities will increase and that business people will take advantage of the situation by profiteering,” he said.
Gamboa noted that on August 28, Councilor Sonya Verdeflor had passed a resolution requesting the Office of City Administrator to reactivate the Price Monitoring and Complaint Desk in all major public markets to ensure that market traders follow the suggested retails prices amidst clamor on the position of price control and price manipulation by the unscrupulous traders.
“As a result of their price monitoring, it is but proper to furnish their reports and findings to the City Council in order to assess what needs to be given attention and once there is monitoring of prices, it could be determined if whether or not prices are still at reasonable rates,” Gamboa said.
The City Council earlier appealed to the Senate and House of Representatives to suspend the imposition of excise tax and the impending additional excise tax charge on fuel and oil products due to the continued rise of the basic commodities and the surging of the inflation rate of the country.