With the imminent passage of the revised VAT law and the recent increase in the prices of oil and power, Vice President Noli “Kabayan” De Castro warned traders from effecting unwarranted hikes in the prices of consumer goods, especially basic necessities and prime commodities used by the majority of Filipinos.

 

Through the National Price Coordinating Council (NPCC), chaired by the Department of Trade and Industry (DTI), the government has intensified its monitoring of the prices of basic and prime goods since November of last year.  The NPCC and its member government agencies, such as the DTI and the Department of Agriculture (DA), have the data available to determine what, if warranted and necessary, should the increase in prices of consumer goods should be as caused by such factors as the passage of the revised VAT law and the oil and power hikes.

 

Dahil sa hirap ng panahon, minsan ay hindi talaga natin mapipigilan ang pagtaas ng presyo ng mga bilihin.  Subalit, makaka-asa kayo na sisiguruhin naming, bilang inyong pinagkakatiwalaang pamahalaan, na anumang pagtaas sa presyo ng mga pangunahing bilihin ay nararapat at may tamang basehan.  Any manufacturer or trader found overpricing or prematurely increasing the prices of their goods will be dealt with severely.

 

Vice President De Castro lamented that some unscrupulous businessmen may take advantage of the current situation and hike their prices to the prejudice of the consuming public.

 

In any event, the Vice President stressed that the government has existing programs to stabilize the prices of basic and prime goods. 

 

Earlier, House Majority Leader Prospero Nograles proposed that the President create an executive price control and regulatory task force for "socially sensitive products" such as liquefied petroleum gas (LPG), cooking oil, medicines, educational supplies and other basic commodities.  “The task force should put a price cap on these products until the government can put the economy back in shape,” Nograles said.

 

Under the existing Price Act (Republic Act No. 7581), there are two types of price control that can be imposed by the government:

1. Automatic price control when prices of basic necessities are automatically placed under price control whenever the President declares an area under a state of calamity, disaster, emergency, rebellion, war, martial law, or when the privilege of the writ of habeas corpus has been suspended. This shall remain effective for the duration of the condition that brought it about, but not more than 60 days.
2. Mandated price control where the NPCC or the implementing agency (such as the DTI, DA, DOH and DENR) may recommend to the President the imposition of mandated price ceilings on any or all of the products that fall under the list of basic necessities and prime commodities when there is impendency/threat, existence or effects of a calamity or emergency or any event that causes artificial or unreasonable increase in prices; or whenever the prevailing prices have risen to unreasonable levels.

The Vice President is confident, though, that since the times call for sacrifices from all sectors of society, a great majority of the Filipinos would live up to their known resiliency in the face of adversity.

 

Sa patuloy na pagtaas sa presyo ng langis at napipintong dagdag na pasahe sa pampublikong sasakyan, nararapat lamang na magtulong-tulong ang lahat upang maibsan ang epekto ng mga pagtaas na ito. Kaya ako ay umaasang sa halip na magsamantala ang ilan nating negosyante, manaig ang kanilang pagkamakabayan at huwag magpataw nang di-nararapat na karagdagang singil sa kanilang bilihin.  Sana ay kanilang maisip na sila (mga negosyante) din ang maaapektuhan sapagkat hindi na makakayanan ng mamimili ang di-makatarungang presyong kanilang ipinatong sa kanilang mga bilihin.