BARMM implements price freeze
Under the Republic Act 7581 or Price Act, a price freeze is imposed on basic goods in areas under a state of calamity for 60 days
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Under the Republic Act 7581 or Price Act, a price freeze is imposed on basic goods in areas under a state of calamity for 60 days
The Ministry of Trade, Investments and Tourism announced the implementation of a price freeze order on basic commodities and medical supplies in the Bangsamoro Autonomous Region in Muslim Mindanao following the onslaught of severe tropical storm "Paeng" last week.
MTIT Minister Abuamri Taddik disclosed that the price freeze is contained under Proclamation No. 4 issued on 29 October by BARMM Chief Minister Ahod Ebrahim, which placed the region under a state of calamity following the devastation wrought by the typhoon.
"We appeal to the business sector to adhere to the price freeze of basic commodities and help us in ensuring that supplies of food in the market is enough," Taddik said.
Under the Republic Act 7581 or Price Act, a price freeze is imposed on basic goods in areas under a state of calamity for 60 days.
Taddik warned that administrative charges await owners of establishments that violate the law on price freeze, including a prison term of one to 10 years or fines ranging from P5,000 to P1 million, or both.
According to the MTIT, among the essential products monitored are canned fish, locally manufactured instant noodles, bottled water, bread, processed milk, coffee, candles, laundry soap, detergent and salt.
The MTIT minister, however, clarified that the price freeze is set to be automatically lifted on 26 December unless sooner lifted by the Chief Minister.
Meanwhile, the Local Price Coordinating Council of Zamboanga City has approved the immediate implementation of a price freeze on all basic commodities in the city for 60 days.
"It is hereby announced that prices of necessities in Zamboanga City are automatically frozen at their prevailing price and/or placed under automatic price control," read the LPCC resolution released Thursday.
A day earlier, Mayor John Dalipe convened the LPCC for an emergency meeting as the city has been placed under a state of calamity through a city council resolution approved on 29 October.
The LPCC said all concerned agencies, offices, and instrumentalities shall conduct regular monitoring and review of the prices of basic commodities under the law.
"Business establishments that do not comply with the price freeze shall be charged under Republic Act 7581 for profiteering," Dalipe said.
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