NPCC recommends retention of price freeze on basic goods

The National Price Coordinating Council ( NPCC) chaired by the Department of Trade and Industry (DTI) has recommended to retain the price freeze on basic necessities which was imposed after President Duterte declared a state of lawless violence early this month.

The NPCC said reports presented by the Departments of Agriculture, Energy, Health, Environment and Natural Resources, and Trade showed stable prices and adequate supply of basic goods before the State of National Emergency was declared up to now while it is still in effect.

“For the past few months, we have been observing that competition is at play even in the Mindanao region. Seeing stability in the market amidst the declaration of State of National Emergency, the Council is recommending a status quo on the implementation of price freeze,” DTI Undersecretary Teodoro Pascua said.

Following the issuance of Proclamation 55 by President Duterte declaring the entire country under State of National Emergency due to lawlessness in Mindanao, a price freeze over basic goods was automatically implemented pursuant to the Price Act.

The price freeze is in effect for 60 days for basic goods and 15 days for household LPG and kerosene, from the date of declaration or until sooner lifted by the President.

“Price freeze on basic goods remains to be in effect except for the 15- day price freeze on household LPG and kerosene which already ended last Sept. 19, 2016. With respect to Batanes, price freeze on all basic goods are still in effect due to the declaration of State of Calamity following the onslaught of Typhoon Ferdie,” Pascua said.

The NPCC said all its members would continue its prices and supply monitoring activities to ensure consumers’ access to reasonable goods in the market.

The price freeze for products under basic necessities is up to Nov. 3, unless otherwise ordered by the President.