DTI penalizes 18 stores for over-pricing

At least 18 establishments have been charged of overpricing basic goods and are facing maximum penalties under the law for taking undue advantage during this time of calamity, the Department of Trade and Industry (DTI) said.

DTI Secretary Peter B. Favila said the price monitoring team composed of DTI, Food and Drug Administration, the Departments of Health and of Agriculture, served a notice of violation to 18 establishments on the grounds of overpricing and violation of the price tag law.

Favila himself went around various wet markets, supermarkets and drugstores in Metro Manila on Wednesday to check adherence to the price freeze imposed on basic necessities.

With this, Favila warned that the government will not hesitate to close down shops and press charges against manufacturers, suppliers, distributors, and retailers who will be found selling above the prices published in various newspapers,” Favila warned.

“Violators of the price ceiling set face stiff sanctions which include an administrative fine of not more than one million pesos and imprisonment of not more than ten (10) years,” Favila said.

He also announced that the DTI is deputizing market masters / administrators to enforce the provisions of the Price Act, thus, help price monitoring teams deployed in different public markets in Metro Manila and the provinces.

He added that the DTI will fully support the LGUs in going after and filing appropriate charges against those who will be found in violating fair trade laws, which include overpricing, price tag/ price list violation, among others.