DTI imposes 60-day price freeze in Kabankalan City

[post-views]
Facebook
Twitter
Email

The Department of Trade and Industry (DTI) has ordered a price freeze on basic necessities in Kabankalan City for 60 days following the declaration of a state of calamity due to El Niño.

This comes after the issuance of SP Resolution No. 2024-209 on April 18, 2024, which placed the entire city under a state of calamity. The Price Act (Republic Act 7581) mandates a price freeze on basic goods in areas declared under a state of calamity.

The price freeze will cover basic necessities such as canned goods, milk, coffee, soap, detergent, bread, salt, water, and instant noodles, sold at their prevailing prices before the calamity. The price control will remain in effect for 60 days unless lifted sooner by the mayor, the DTI said.

In a statement, the DTI warned violators of the price freeze that they may face imprisonment of 1 to 10 years, a fine of P5,000 to P1 million, or both. DTI said they will be actively monitoring the situation to ensure compliance by stores.

The price freeze is expected to end on June 18, 2024.

Below is the approved pricing of basic commodities as released by DTI.

MORE STORIES

error: