City Official: Business owners may face charges for exorbitantly raising prices

Posted by watchmen
January 12, 2018
Posted in HEADLINE

By Dominique Gabriel G. Bañaga

Amid implementation of the Tax Reform for Acceleration and Inclusion (TRAIN) Law, Bacolod City Executive Assistant Ernie Pineda, who runs the Market Coordinating and Monitoring Task Force, warned business owners who drastically raise prices may face charges.
Following on-the-spot price monitoring inspections between January 3 and 8, stalls were found to be selling dressed chickens at an increased rate of P180 per kilogram. However, after the Department of Trade and Industry (DTI) conducted their own inspections, they found prices dropped to between P135 and P150 per kilogram.
Pineda said the findings are evident business owners are taking advantage of consumers and warned such overpricing could result in charges being filed against vendors.
Price monitoring, meanwhile, has since increased.
For local chicken vendors, they attributed price hikes to bird flu, which was detected in Pampanga last August. They also claimed recent storms have impacted the supply of chickens in the region.
During their regular session earlier this week, the Bacolod City Sangguniang Panlungsod passed a resolution calling for price monitoring on basic and prime commodities.
The legislation sought to “protect the consuming public from exorbitant, unreasonable and excessive price increases.”/DGB, WDJ

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