DTI: No price hike in goods after ML declaration

ILIGAN CITY, June 6 (PIA) — The Department of Trade and Industry (DTI) has assured the public that there would be no price increase in basic commodities in markets after President Rodrigo Roa Duterte proclaimed Martial Law (ML) in Mindanao following the clashes between government forces and Maute terror group in Marawi City last May 23.

DTI Sec

In yesterday’s, June 5, press briefing held at the Regional Command and Coordination Center in Iligan City, Trade Secretary Ramon Lopez said that results of market price monitoring conducted by DTI showed that stores, especially in Iligan City and Lanao del Norte, complied with the government’s price freeze order.

DTI region 10

DTI market monitoring report as of June 5, 2017 showed that NFA rice remains at P27 a kilo, regular milled rice at P40 a kilo, well-milled rice at P44 to P48 a kilo and upscale rice at P52. These prices, except for upscale rice, have the same price prior to the declaration of Martial Law.

In a statement, DTI Secretary Lopez informs all consumers and retailers that pursuant to Section 6 of Republic Act 7581 or the Price Act, prices of basic necessities in areas proclaimed or declared under Martial Law shall be automatically frozen at their prevailing prices or placed under automatic price control.

dti region 10 (2)

“Supply of goods in Iligan City and Lanao del Norte markets is also abundant despite the threat of terrorism in some of the province’s rural areas. Hence, I refuted reports that prices of basic commodities soared high in the wake of Marawi crisis,” Lopez said.

He, therefore, urged the buying public to countercheck the prices sold in markets to ensure they are buying goods with the right price. (RLRBalistoy/PIA-10, Bukidnon)

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