Prices steady in typhoon-hit areas — DTI – BusinessWorld Online
THE Department of Trade and Industry (DTI) said that prices and the supply of basic necessities and prime commodities were stable in areas affected by severe tropical storms.
“The DTI Regional Operations Group confirmed stable supply in affected regions, noting no reports of delivery delays or panic buying in the provinces and municipalities placed under a state of calamity,” the department said in a statement on Tuesday.
According to the DTI, a 60-day price freeze is in effect in Cagayan, Masbate, Oriental Mindoro, Biliran, and Romblon provinces.
The freeze is also in place for Pagudpud, Ilocos Norte, Dagupan City, Pangasinan, Calbayog and San Vicente, Samar, and Ibajay, Aklan.
Meanwhile, the DTI said most markets, groceries, and supermarkets remain operational apart from some business closures in Masbate.
Trade Secretary Ma. Cristina A. Roque said: “Despite the impact of the storms, we assure the public that prices of essential goods will remain stable and consistently accessible.”
“Our regional and provincial monitors are on the ground daily to safeguard market stability,” she added.
The DTI warned that violators of the price freeze may face penalties of up to 10 years’ imprisonment and fines of up to P1 million. — Justine Irish D. Tabile
