AN OFFICIAL of the Department of Trade and Industry (DTI) has warned businessmen of sanctions to include imprisonment once they will be found violating the price freeze of basic necessities and prime commodities.
DTI Provincial Director Rolando Acuña issued the warning citing the prices of basic necessities and prime commodities are automatically frozen at their prevailing or placed under automatic price control as a result of Proclamation No. 55 issued by President Rodrigo Duterte declaring the country under state of national emergency on account of lawless violence.
President Duterte issued Proclamation No. 55 placing the country under state of lawless violence after a bomb exploded in Davao City and killed 14 people and injured more than 60 others earlier this month.
Acuña said the price freeze is pursuant to Sec. 6 of Republic Act No. 7581 otherwise known as the Price Act, which mandates automatic price control whenever an area is declared under a state of emergency.
The average price at which any basic necessity has been sold in a given area within a month from occurrence of the condition that brought about the emergency shall be the basis in determining the prevailing price.
The law also mandates that if the prevailing price of any basic necessity is excessive or unreasonable, the implementing agency may recommend to the president the imposition of a price ceiling for the sale of the basic necessity at a price other than its prevailing price.
Acuña enjoined retailers to comply with the price freeze and warns them of the sanctions for the violation thereof. Consumers are also advised to be guided accordingly.
Acuña said that those who will be found culpable for violation of the price freeze shall be imprisoned from not less than a year nor more than 10 years, or a fine of not less than P5,000 nor more than P1,000,000, or both.
The price control of basic necessities will remain effective for the duration of the condition that brought about the emergency, but not for more than 60 days unless sooner lifted by the President. (Bong Garcia/Sunnex)