Marcos orders price freeze on basic goods until December
(FILES) Consumers carefully buy goods at Paco Market in Manila.
PHOTOGRAPH BY JOHN LOUIE ABRINA FOR THE DAILY TRIBUNE
Daily Tribune(FILES) Consumers carefully buy goods at Paco Market in Manila.
PHOTOGRAPH BY JOHN LOUIE ABRINA FOR THE DAILY TRIBUNE
KUALA LUMPUR, Malaysia — As the country enters the holiday season, President Ferdinand Marcos Jr. has directed the Department of Trade and Industry (DTI) to implement a price freeze to ensure stable prices of basic commodities.
“Pursuant to the order of President Ferdinand Marcos Jr. that there will be no movement in commodity prices before the holiday season, the Department of Trade and Industry (DTI) announced that there will be no price increase in basic and prime commodities in the country until the end of the current year,” Palace Press Officer Undersecretary Claire Castro said.
Before leaving Manila on Saturday, Marcos said he tasked the DTI to strictly monitor and implement the maximum suggested retail prices (SRP) for imported rice and other essential food items.
The President also ordered the DTI to continue coordinating with manufacturers to maintain current price levels and prevent unwarranted price hikes.
According to Castro, Trade Secretary Ma. Cristina Aldeguer-Roque assured that all industry stakeholders are working closely with the government and other concerned agencies to ensure market stability, particularly during the holiday season.