MAMBAJAO, CAMIGUIN, May 24 (PIA) – With the imposition of a price freeze, the Department of Trade and Industry (DTI) Camiguin Provincial Office’s enforcement team intensifies monitoring of business establishments to ensure that the goods covered are sold at prevailing prices, while they also checked on the price and supply situation in various areas placed under state of calamity.
In view of the declaration of a State of Calamity in the province of Camiguin due to devastating effects of El Niño Phenomenon, the DTI-Camiguin is imposing a 60-day Price Freeze on basic necessities and some prime commodities as provided for under Section 6 of the Republic Act 7581 or the Price Act.
Price freeze is the situation in which prices, or the price of a particular product, are fixed at a particular level and no increases are allowed.
Apart from continued monitoring and enforcement, DTI-Camiguin has sent price freeze advisory to all store owners, manufacturers and distributors in the affected areas to guarantee constant replenishment of goods and ensure adequate supply.
All business establishments are enjoined to strictly abide the law and cooperate to avoid penalties. Violators will be summoned by DTI-Camiguin and could face fines of up to P1 million or imprisonment for a maximum of 10 years.
Meanwhile, based on this month’s monitoring activities, DTI said prices and supplies of products in the province are stable. (Zita M. Abellare with reports from Varry Labial, DTI-Camiguin, PIA Cam iNet)