BUSINESS
OTOP prices not DTI-regulated
‘Under the Price Act, provisions to impose suggested retail prices are only for products under BNPC. OTOP is luxury, so it’s not covered, and you know that in airports, even the price of water is doubled’
The Department of Trade and Industry said regulating prices of One-Town-One-Product merchandise sold in the country's airports and malls is not the agency's job, as these products are mostly categorized under leisure and do not belong to basic necessities and price commodities.
This, amid skyrocketing OTOP prices which usually double when sold in OTOP shops in airports and chosen malls.
"Under the Price Act, provisions to impose suggested retail prices are only for products under BNPC. OTOP is luxury, so it's not covered, and you know that in airports, even the price of water is doubled," Trade Secretary Alfredo Pascual said in a briefing during the signing of the Implementing Rules and Regulations of the One Town One Product, or OTOP, Philippines Act last 10 November.
Flying means you're rich
"It's understood that because you are flying, it means you are rich and you can buy those luxurious products," Pascual added, emphasizing that regulating OTOP prices is not under their jurisdiction.
The newly signed OTOP Act's Implementing Rules and Regulations were drafted in cooperation with the USAID-RESPOND (or US Agency for International Development-Regulatory Reform Support Program for National Development) through the University of the Philippines Public Administration Research and Extension Services Foundation, Inc.
The newly signed IRR provides a comprehensive framework for the effective implementation of the OTOP Philippines Act, and also outlines the guidelines and procedures that local government units and micro, small and medium enterprises need to follow to participate in the program.
It also defines the roles and responsibilities of various stakeholders, including LGUs, national agencies, and private sector partners.
Ripple effect
Further, Pascual added that as the OTOP Philippines Act gains momentum, it is expected to create a ripple effect, generating more employment opportunities, fostering innovation, and ultimately contributing to the overall economic development of the country.
The formulation of the provision in Section 14 of the Act promulgates the rules on the OTOP Philippines Trustmark and its Certification Committee, OTOP Management Committee and Interagency Coordination Committee, OTOP Program Management Office and OTOP Local Program Office, National and Local OTOP Philippines Hub, and National and Local OTOP Strategic Plan.