The Department of Trade and Industry (DTI) announced on Tuesday, Dec. 17, that a 60-day price freeze is now in effect in Negros Occidental, following the declaration of a state of calamity due to the eruption of Mt. Kanlaon on Dec. 9.
“Following the issuance of the Provincial Board Resolution 1446 issued on Dec. 13, 2024, declaring the entire province under a state of calamity, the DTI is imposing a price freeze on basic necessities,” it said in an advisory.
The DTI-Negros Occidental said it is informing consumers and retailers that prices of necessities “shall be automatically frozen at their prevailing prices and placed under automatic price control for a period of 60 days unless sooner lifted.”
“DTI will monitor regularly the supply and price situation of basic necessities and the compliance of the stores with the price freeze. The price freeze is expected to end on Feb. 11, 2025,” it added.
Products under basic necessities include canned fish and other marine products, processed milk, coffee, detergent/laundry soap, candles, bread, salt, potable water in bottles and containers and locally manufactured instant noodles.
DTI-Negros Occidental said Republic Act 7581, or the Price Act, provides that “prices of basic goods in an area placed under a state of calamity shall automatically be frozen at their prevailing prices prior to the occurrence of the calamity.”
“Unless sooner lifted by the governor, price control of basic necessities shall remain for the duration of the condition that brought it about, but not for more than 60 days,” it added.
Violators of the price freeze shall face the penalty of imprisonment for not less than one year or more than 10 years or a fine of not less than P5,000 or more than P1 million or both, at the discretion of the court.*PNA