Companies now have the power to dictate the prices of their main products in wet markets and grocery stores.
The Deparment of Trade and Industry (DTI) has decided to pass on to the manufacturers the policy of imposing SRP’s among their products to practice the free market competition.
This covers products such as coffee, milk, noodles, sardines and other basic and prime commodities.
Despite this, DTI Secretary Ramon Lopez assures consumers that businessmen will not exploit the situation.
“Hindi tataas po yun kasi sa competition…eh kung sya lang ang nagtaas at ang iba hindi, bahala sila kasi pupunta sa kabila ang consumer (Prices will not increase because of competition…say, if one manufacturer increased its prices, while others did not, it’s their risk because consumers will go to other manufacturers),” he said.
The DTI will summon companies who will impose questionable price increases.
If a company is proven to have taken advantage, it may be penalized with a fine ranging from 20,000 to 1 million pesos.
Some grocery store owners are relieved by this move of the DTI.
“Kung ang margins ay too small like 2 or 3 percent lang bingay dahil dumerecho sila sa DTI, abusive from our end because how can we pay the right taxes, right salaries,pagtaas ng kuryente at tubig and other cost of operation? Definitely a relief (If the margins are too small like 2% or 3%,they went straight to the DTI. Abusive from our end cause how can we pay the right taxes, right salaries. High power and water rates, and other costs of operation. Definitely a relief),” said Amalgamated Supermarket Association president, Steven Cua .
Meanwhile, the DTI will investigate why sugar manufacturers have not reduced sugar prices in the market.
The price of sugar is still at P56.00 per kilogram when it should only be P50.00.
Despite the new policies, DTI assures to continue monitoring the prices of basic and prime commodities, to protect the rights of consumers. — Joan Nano | UNTV News & Rescue