DTI warns traders vs jacking up prices

2008/06/27

DTI warns traders vs jacking up prices

Iloilo City (27 June) -- Provincial Director Diosdado Cadena of the Department of Trade an Industry (DTI) warned unscrupulous traders against taking advantage of the calamity situation in the city and province of Iloilo by jacking up prices of basic and prime commodities including water.

Cadena said the DTI will not hesitate to file the appropriate charges against establishments found to be manipulating the prices of basic and prime commodities especially that "automatic price freeze" is now being implemented in the city and province of Iloilo.

Under the Price Act, Cadena explained, that "automatic price freeze" means prices of basic and prime commodities should be maintained at the level a week prior to the occurrence of the calamity.

"Anybody selling beyond the price a week before the calamity will be charged of overpricing," said Cadena in a radio interview.

Starting today, the DTI employees will be deployed, said Cadena, to strengthen their monitoring and ensure that supply and prices of commodities are stable in the markets.

"We would also welcome volunteers to be properly deputized and to do covert operations for us," added Cadena.

He, likewise enjoined the help and cooperation of residents in this effort by reporting immediately to the DTI any cases of overpricing or profiteering through telephone numbers 509-9942, 335-0149 or 337-0392. (PIA)

Cabatuan.com - Kasimanwa.com - Diosdado Cadena Jr.