BOTTLED WATER RETAILERS TOLD TO FOLLOW SRP
Under Section 5 of the Republic Act No. 7581 or the Price Act, selling a basic necessity like bottled water and prime commodities at a “grossly excessive price” is considered profiteering.
As demand for bottled water goes up with the summer heat, the Department of Trade and Industry (DTI) advises bottled water retailers to observe the suggested retail price (SRP).
Both DTI national and Cebu officials are presently monitoring prices of bottled water.
“We are always monitoring weekly prices of bottled water as one of the basic necessities. The last SRP issued was (on) April 26, 2017. As of last monitoring, prices are within SRP,” said Bation in a text message yesterday.
Meanwhile, DTI national officials led by Undersecretary Atty. Teodoro C. Pascua led the monitoring and enforcement activities on the prices of various brands of bottled water sold in bus terminals in Metro Manila.
The official found out that 10 stalls in Quezon City, selling bottled water, went far beyond the SRP.
Under Section 5 of Republic Act No. 7581 or the Price Act, selling a basic necessity like bottled water and prime commodity at a “grossly excessive price” is considered profiteering.
“There shall also be prima facie evidence of profiteering when a basic necessity or prime commodity is sold without a price tag, misrepresented as to its weight and measurement, and raised by more than 10 percent of its price in the immediately preceding month,” said DTI.
When retailers are found to sell the item beyond SRP, Bation said DTI will require them to present a show cause order to explain their prices. If grounds for overpricing are not established, DTI may fine the seller from P20,000 up to as high as P1 million.
“As to the peddlers selling in the streets, there are handlers who supply them with bottled water, who in turn get them from distributors. Distributors got it from manufacturers with specific instructions for them to comply with SRP,” said Bation.