Price ceiling imposes on basic goods…
Posted by Inday Bisdak on October 9, 2009
Price ceiling means that sellers are not allowed to increase prices (for 60days or according to DTI advertised date) after the state of calamity.
No price increased on basic goods during an emergency.
Price ceiling on basic commodities to prevent unscrupulous traders from raising prices in the awake of the devastation typhoons name Ondoy and Pepeng.
The price of goods must be the same of the imposed prices from the DTI (Department of Trade and Industry). The standard retail prices of basic commodities. This is effective in all the areas under the state of calamity. The list of goods that are automatically controlled in a times of emergency.
The commodities covered by the price ceiling include canned sardines, processed milk, coffee, instant noodles, detergent soap, rice, meat, poultry, sugar, cooking oil and others basic consumption. The order covers both wet market and supermarkets.
However the price ceiling does not cover the include the LPG (liquefied petroleum gas) and the construction materials. Construction material are classified as prime commodities but certain construction materials will not imposed of increase prices.
Violators of the price ceiling overpricing faces imprisonment of ten (10years) and a fine of P1million for those sellers who caught increasing their prices.
Please to all traders at times like this don’t take advantage of the crisis unnecessarily to increase the prices of basic goods and commodities. At time like this we can overwhelmed by the magnitude of the tragedy that has just occurred and the challenge to rebuild and recover. Let’s help one another…and be as one for unity…
Thank you for your cooperation.