CITY OF SAN FERNANDO, Pampanga, Sept 28 (PIA) — A price freeze on basic goods and prime commodities is now being implemented in the entire Central Luzon as well as in Regions 1, 2 and Cordillera after being placed under a State of Calamity.
“President Rodrigo R. Duterte issued Proclamation No. 593 to hasten the rescue, recovery, relief and rehabilitation efforts of the government and the private sector in light of the damages caused by Typhoon Ompong,” Department of Trade and Industry (DTI) Regional Director Judith Angeles said.
Under Republic Act No. 7581 otherwise known as the Price Act, when there is a declaration of a state of calamity, automatic price control is applied to basic needs and prime commodities for a period not less than 90 days, or until the President lifts the proclamation.
Prices of basic needs and prime commodities are held at prevailing prices, or the average price for the present month.
“Our Regional Office and provincial offices are continuously and regularly monitoring public markets, groceries, supermarkets and stores to ensure the steady supply of basic goods and stable prices,” Angeles added.
Violators including Hoarding, Profiteering and Cartel, are punishable by law, with a maximum penalty of Php1,000,000 and imprisonment of up to 15 years. (CLJD-PIA 3)
Source: PIA Feed