Issue of June 10, 2018
Mt. Province

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DTI buttresses price watch
by Christian Allister G. Tubadeza

BANGUED, Abra – Overpricing, price deregulation, and wrong price tagging are some of the common violations observed by the Department of Trade and Industry during its recent inspection.

The DTI-Abra headed by Provincial Director Arell F. Bañez has intensified the monitoring of business establishments and groceries to ensure that prices of basic and prime commodities in the market are within the suggested retail price (SRP), and to ensure that articles bear the appropriate price tags.

DTI paired up with the provincial government, local government of Bangued, Abra Provincial Police Office, Philippine Information Agency, and the local media to help monitor the increase in the price of basic and prime commodities, especially in grocery stores.

Bañez warned retailers not to take advantage of and make the implementation of the Tax Reform for Acceleration and Inclusion as a reason for not complying with the SRP to avoid being penalized under Republic Act 7581 or Price Act.

Bañez said when a retailer sells basic and prime commodities 10 times more than its true value, they are considered to be committed profiteering based on Section 3 of the Implementing Rules and Regulations of the Price Act.

If a retail store displays outdated price tags which cost lower than the latest SRP, the SRP cannot be imposed on the consumer upon payment because the price tags that are posted shall always be the basis of payment.

Bañez encouraged the public to report their complaints on prices and supply of basic and prime commodities to DTI-Abra Provincial Office located at Barangay Ubbog, Bangued, Abra.

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