CABANATUAN CITY, Nueva Ecija, Oct. 8 (PNA) --The Department of Trade and Industry (DTI) warns to slap heavy fines and even imprisonment on businessmen found to have jacked up prices of basic commodities in Nueva Ecija.
The province has been placed under state of calamity as a result of devastation brought by twin typhoons 'Pedring' and 'Quiel' during the past two weeks.
Brigida Pili, DTI provincial director, said Republic Act 7582, also known as Price Act, provides for automatic price control when a state of calamity is enforced. p>"Our provincial government has placed our province under the state of calamity so prices should be frozen," Pili said.
"There is no reason to suddenly increase prices of basic commodities such as sardines, noodles, sugar and the likes," Pili said, adding most retailers have these supplies already in their respective warehouses before the typhoons wrought havoc in Nueva Ecija and other parts of Central Luzon.
She said that her office regularly conducts monitoring of prices as she warned that erring businessmen maybe slapped with at least P1-million fine and imprisonment.
"Even a slight increase in transportation, if there's any, " she said, "is not enough ground to increase retail prices of basic commodities."
She lauded, however, local retailers for "observing proper pricing as part of their corporate social responsibility."
She said their manpower has been reinforced by people from various local governments and market administrators just to make sure no businessman takes advantage of the (PNA)
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