PBBM orders price freeze on basic, prime commodities until yearend

By Joyce Ann L. Rocamora, Philippine News Agency

The DTI has announced that there will be no price increase on basic and prime commodities until yearend. (Pexels photo)

KUALA LUMPUR, Malaysia – President Ferdinand R. Marcos Jr. has directed the Department of Trade and Industry (DTI) to implement a price freeze on basic and prime commodities until the end of the year to ensure price stability during the holiday season.

“Alinsunod sa kautusan ni Pangulong Ferdinand Marcos Jr. na hindi magkakaroon ng paggalaw sa mga presyo ng mga bilihin bago ang holiday season, inanunsyo ng Department of Trade and Industry (DTI) na walang price increase sa basic at prime commodities sa bansa hanggang sa matapos ang kasalukuyang taon (Upon the directive of President Ferdinand R. Marcos Jr., the DTI has announced that there will be no price increase on basic and prime commodities until yearend),” Presidential Communications Office (PCO) Undersecretary Claire Castro said on the sidelines of the 47th Association of Southeast Asian Nations (ASEAN) Summit and Related Summits here Monday.

Marcos, she said, instructed the DTI to ensure the strict monitoring and implementation of the maximum suggested retail prices (SRP) for imported rice and other essential food items.

Marcos also ordered the DTI to continue its coordination with manufacturers to maintain current price levels and prevent unwarranted price hikes.

According to Castro, Trade Secretary Ma. Cristina Roque assured that all industry stakeholders are working closely with the government to stabilize market prices, particularly during the holiday period.

“Nagtutulungan din ang lahat upang maibigay ang presyo na naaayon at gusto ng ating mga kababayan (All agencies are working to keep the price fair and reasonable for consumers),” she said.