price freeze

SENATOR Francis “Chiz” Escudero has reminded authorities to ensure that prices of basic goods and prime commodities remain stable during this critical time in the provinces severely affected by Typhoon Tino.

As the principal author of Republic Act No. 10623, which amended the law to provide protection to consumers by stabilizing the prices of basic commodities during disasters and emergency situation, Escudero said prices should be closely monitored to stop the abuse and exploitation by unscrupulous merchants.

“Nakikiramay tayo sa pamilya ng mga nasawi dahil sa hagupit na hatid ng bagyong Tino. Napakabigat din ng pinsala sa mga tahanan at negosyo mula sa matinding pagbaha. Ang dasal natin ay makabangon agad ang mga apektado ng bagyo,” he said.

“Ang pinakamahalaga para sa mga nasalanta ng bagyo ay ang sapat na pagkain, gamot, at ang materyales para makumpuni ang mga nasirang bahay kaya nararapat lamang na may sapat na bilihin sa mga panahon na ito at walang gulangan pagdating sa presyo ng mga ito,” Escudero added.

RA 10623 expanded the coverage of basic necessities and prime commodities to ensure that consumers are given more protection from undue price increases during times of calamities or disasters. Basic necessities now include potable water in bottles and containers, fresh fruits, locally manufactured instant noodles, household liquefied petroleum gas, and kerosene. Livestock and fishery feeds were included in the list of prime commodities.

Under the law, price control of basic necessities is in effect for the duration of the state of calamity or emergency, but not exceeding 60 days, or in the event the President lifts the declaration earlier.

In the case of basic necessities that are wholly imported or deregulated under the existing laws, the price control will only be in effect for a maximum of 15 days. Any person who commits price manipulation, hoarding, profiteering, and cartel-like activities faces heavy penalties that include fines and imprisonment.