Refer to: Ms. Dale Zapata
10 March 2005
VP Noli to
continue help in price monitoring
NPCC to NEDA Cabinet Group: Prices of Basic Goods Generally Stable
The prices of basic goods and commodities have generally remained
stable for the past three months.
This was the assessment made by the National Price Coordinating Council
(NPCC) in its report to President Gloria Macapagal-Arroyo during the
NEDA Cabinet Group Meeting held in Davao City last 8 March 2005.
Vice President Noli “Kabayan” de Castro added: “While there have been
upward movements in prices, nothing radical has been observed. So far,
everything has moved within foreseeable ranges.”
Also during the cabinet meeting, the President underscored De Castro’s
importance in the effective and efficient management of various issues
relating to prices of basic goods. In a gesture of approval, the
President asked De Castro to continue helping the NPCC in its price
Last November 2004, the President tasked the Vice President to lead the
nationwide campaign to keep the prices of basic goods stable during the
Christmas season. Through intensified price monitoring, regular
market inspections and media releases as well as constant consultation
and dialogue with the private sector, De Castro and the NPCC, notably
the Departments of Trade & Industry (DTI) and Agriculture (DA)
exerted all efforts to make last Christmas affordable. With the
help PNP Director-General Edgardo Aglipay, rampant “tong” collection
along the national highways was also minimized.
The NPCC, chaired by the DTI and composed of various government
agencies and private sector representatives, is the mechanism created
by law (the Price Act, RA 7581) to ensure stability in the prices of
basic necessities and prime commodities.
In any event, the NPCC noted that the recent oil price hike as well as
the proposed VAT amendments would cause significant increases in the
prices of goods. In this regard, the Vice President suggested
that government exert all efforts to ensure that any price increase
would be minimal and warranted. The Vice President and DTI
Secretary Juan Santos agreed that there must be an effective
information campaign so that the consuming public would have a complete
understanding of the price situation.
The DTI and the DA are currently publicizing prevailing prices of basic
goods in major tabloids.
Office of the Vice President (OVP)
Management Information Services
Division (MISD). All rights reserved.