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Home»Business and Finance»Sen. Tito Sotto questions DTI on the implementation of price freeze
Business and Finance News Politics

Sen. Tito Sotto questions DTI on the implementation of price freeze

Rhelyn HarderBy Rhelyn HarderApril 18, 2020No Comments3 Mins Read
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  • Sotto reprimanded the DTI for lack of monitoring on price freeze violations.
  • DTI imposed a price freeze on food and essential products

On Thursday, Senate President Vicente Sotto III said that retailers and sellers continue to raise the prices of their products despite the imposed price freeze on essential items due to the COVID-19 pandemic.

In his statement, he reprimanded the Department of Trade and Industry (DTI) for a lack of monitoring on price freeze violations.

 “Anong nangyari sa price freeze? Sa SRP (suggested retail price)? Bakit hindi ito nasusunod? Anong ginagawa ng DTI? Bakit hindi nila ito nabantayan,” he said

President Rodrigo Duterte said on his third weekly report to Congress that have been 635 individuals were arrested for hoarding, profiteering, and/or manipulations of prices of basic goods and medical supplies amid crisis due to coronavirus pandemic.

As a relief measure for the affected families by the enhanced community quarantine, DTI imposed a price freeze on food and essential product.

Supermarkets are ordered to strictly adhere to the SRP it has set on such items.

According to Sotto, his office received reports which include complaints of prices of rice that gone up to as high P2,100 per Cavan from its previous price of P1,800 per 50 kilos/sack. The prices of canned goods, fruits and vegetables have also increased.

Kakabili lang po namin dito sa Bgy. Highway Hills. And yung bigas po is php58 per kilo. Wala po ba talagang mas murang choices? Last time ang nabili po namin is php50. Isang tali po ng sitaw is php50. 5pcs ng sibuyas php55. Di po ata ganun presyo sa palengke. 🙁

— Deva Mark (@devaisaboy) April 15, 2020

@DtiPhilippines bakit parang pataas ng pataas ang presyo ng bigas last week 41 ngayun 49 na tsk tsk kala ba freeze ang prices bakit parang pataas ng pataas

— blueblackred (@blueblackred4) April 8, 2020

https://twitter.com/monalicious0827/status/1247822907541262336

The Senate President said that traders and resellers are using checkpoints and lockdown procedures as a reason to jack up the prices of products when it has nothing to do with the transportation and distribution. Basic commodities should be sold based on SRP before the ECQ is implemented.

“Inaabuso ng mga retailers at sellers ang mamamayan sa panahong dapat ay nagtutulungan tayong lahat para malampasan ang krisis na ito. Hindi ito tama,” the Senate President said.

Sotto also said that DTI should be pro-active to protect the public from abusive people. By making sure that prices of the basic commodities are a big help to people in this crisis.

“The DTI should be pro-active. It is important that the public is protected from abusive people during this difficult time,” Sotto said.

“Let us help our people by making sure that prices of basic commodities remain affordable especially now that incomes are at their minimum, if not totally cut,” he added.

According to the President, the DTI has conducted 2,415 price monitoring activities from April 2 to 9, 2020.

“During the same period, the DTI issued 150 Letters of Inquiry and 71 Notices of Violation, and launched a total of 888 operations in connection with its campaign on anti-hoarding/anti-profiteering,” Duterte reported.

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COVID-19. Department of Trade and Industry DTI President Rodrigo Duterte price freeze Tito Sotto Vicente Sotto III
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