A COUNCIL monitoring prices of commodities is reminding the local business sector that a `price freeze’ is going on as Cagayan de Oro is still under the state of calamity following Tropical Storm Vinta’s onslaught.
Lawyer Edgardo Uy, head of the City Price Coordinating Council, said the price freeze will remain in effect unless until the state of calamity will be lifted.
The Department of Trade and Industry (DTI) last December 29 informed all consumers and retailers that based on Section 6 of the Republic Act No. 7581 or the Price Act, prices in an area proclaimed or declared a disaster area or under a state of calamity or an emergency, shall be automatically frozen at their prevailing prices.
This will last for a period of 60 days unless sooner lifted in this case, by the City Council of Cagayan de Oro.
Basic necessities that are under price freeze include canned sardines, milk, coffee, detergent or laundry soap, noodles, bread, salt, candles, and water.
Uy has encouraged consumers to report retailers found increasing or manipulating their prices.
However, Uy said that no supermarkets, retail stores or grocery stores have violated the price freeze so far in their monitoring.
The Price Act provides that any retailers found selling more than the listed price ceilings shall be imposed with an administrative fine of up to P1 million.
The DTI-Misamis Oriental Provincial Office also called on consumers to report violations at 857-4034.
In its resolution, the City Council placed the city under state of calamity with the extensive damage brought by the flooding.
"The provision of relief materials to meet the immediate needs of the affected residents can be facilitated through the declaration of state of calamity," the resolution stated.