PRICE FREEZE OF BASIC NECESSITIES IN CAGAYAN DE ORO CITY

(Declared under a State of Calamity due to flash flood that occurred in several parts of the city on January 16, 2017, Resolution No. 12561-2017 of the Office of the City Council.)

The Department of Trade and Industry (DTI) informs all consumers and retailers that based on Section 6 of the Republic Act 7581 or the Price Act, prices in an area proclaimed or declared a disaster area or under a state of calamity or under an emergency shall be automatically frozen at their prevailing prices or placed under automatic price control for a period of 60 days unless sooner lifted.

The Price Act provides that any retailers found selling more than the listed prevailing prices shall be imposed with an administrative fine of up to One Million Pesos (P1,000,000.00) under Republic Act No. 7581 Section 16 and Department Administrative Order 6 Series 2007 Article 6 Section 2.

dti-price-freeze-cdo-lpa

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s