Fifty-seven retailers in the National Capital Region (NCR) were flagged by the Department of Trade and Industry (DTI) for violating the Price Act, 51 of which were cautioned for possible profiteering.
The DTI in a statement yesterday said the 51 retail firms were served with show-cause orders for selling basic and price commodities (BNPCs) priced more than 10 percent higher than the preceding month and without or with inconsistent price tags.
The SCO gave them 48 hours from receipt within which to submit a written explanation.
Six were issued letters of inquiry for selling items priced higher than the suggest retail prices (SRP).
Four of the six have submitted their written explanation.
No details were provided by the DTI except to say these were uncovered during the “Sweeptember” operations in NCR on retail firms covering Pasig, Parañaque, Malabon, and Quezon City to check their compliance with SRP bulletin released last August 12.
Republic Act No. 7581, as amended by R.A. 10623, or the Price Act provides there shall be prima facie evidence of profiteering whenever a basic necessity or prime commodity being sold has no price tag or is priced by more than 10 percent of its price in the immediately preceding month.
As one of the implementing agencies of Republic Act No. 7581, or the Price Act, as amended, and as chairman of the National Price Coordinating Council , DTI laws and issuances authorize the SRP bulletin for BNPC, such as the Price Act which authorizes the DTI secretary to issue, from time to time, suggested reasonable retail prices for any or all BNPC under the DTI’s jurisdiction.
“We encourage sellers and manufacturers to comply with the SRP bulletin as such informs and protects consumers from deceptive or unconscionable transactions,” said Ruth Castelo, DTI undersecretary. – Irma Isip
