Tag Archives: price freeze

DTI-Camiguin imposed price freeze anew

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price-increase3-300x336MAMBAJAO Camiguin, October 12 (PIA) — In view of Proclamation No. 55 issued on September 4, 2016 declaring a state of national emergency on account of lawless violence, the Department of Trade and Industry (DTI) Camiguin Provincial Officer is imposing a 60-day Price Freeze on basic necessities and prime commodities.

Pursuant to Section 6 of Republic Act No. 7581, The Price Act, as amended, prices of basic necessities are automatically frozen at their prevailing prices or place under automatic price control.

In the province of Camiguin, as soon as the declaration was made, the consumer welfare division (CWD) visited business establishments, talked to the owners and managers, provided all copy of the memorandum on prize freeze and Proclamation No. 55 series of 2016.

DTI-Camiguin’s initiative is in consonance to Section 6 of the Republic Act (RA) 7581 also known as the Price Act of the Philippines in order to ensure that the price of goods remain stable until the state of calamity is lifted.

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.

All business establishments are enjoined to strictly abide the law and cooperate to avoid penalties.price-freeze-orange

Violators of the price freeze will be summoned by DTI-Camiguin and those found selling above the prevailing prices could face fines of up to P1 million or imprisonment for a maximum of 10 years.

With the imposition of a price freeze, the DTI-Camiguin enforcement team will intensify monitoring of business establishments to ensure that the goods covered are sold at prevailing prices and will be checking the price and supply situation of goods in various areas which are placed under state of calamity. (Zita M. Abellare with reports from Varry Labial, DTI-Camiguin, PIA Cam iNet)

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DTI-Camiguin intensifies price, supplies monitoring during price freeze

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DTI-Camiguin intensifies price, supplies monitoring during price freeze

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)

Camiguin Visit_201605_ValcorzaJ (3)

DTI imposed price freeze

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DTI imposed price freeze

MAMBAJAO, Camiguin, May 12 (PIA) –Following the province declaration of State of Calamity due to devastating effects of El Niño Phenomenon on 19 April 2016, the Department of Trade and Industry (DTI) Camiguin Provincial Office is imposing a 60-day price freeze on basic necessities and some prime commodities.

This initiative is in consonance to Section 6 of the Republic Act (RA) 7581 or the Price Act of the Philippines to ensure that the prices of goods remain stable until the state of calamity is lifted.

DTI said prices of products are fixed at a particular level and no increases are allowed.

All business establishments are enjoined to strictly abide the law and cooperate to avoid penalties. Violators will be summoned by DTI and those found selling above the prevailing prices could face fines of up to P1 million or imprisonment for a maximum of 10 years.

The DTI-Camiguin enforcement team is currently intensifying its monitoring activities to business establishments to ensure that the goods covered are sold at prevailing prices; they will also be checking the price and supply situation of goods in various areas which are placed under state of calamity. (Zita M. Abellare with reports from Varry Labial, DTI-Camiguin, PIA Cam iNet)