The Department of Trade and Industry (DTI) is joining forces with the Philippine Competition Commission (PCC) in their fight to stem anti-competitive behavior of businesses such as hoarding and cartelization that tend to raise prices of goods.
DTI Secretary Alfredo Pascual at the Kapihan sa Manila Bay said the agency has put on hold its decision on the request of 13 manufacturers of some basic and prime commodities (BNPCs) to increase their prices.
Pascual said he met with the agency’s consumer team two weeks ago and reached consensus not to act on the petitions for price hikes.
Pascual said the DTI is monitoring real time oil prices and other important inputs that the manufacturers cited as the basis for seeking adjustments.
“If we detect there is basis, we will sit down and decide (if) we will consider which requests for price adjustment (will be approved),” Pascual said.
Manufacturers of 43 of 217 stock keeping units of BNPCs plan to increase their prices by P0.10 to P9.75 or 1 to 10 percent. These include canned sardines, condensed and evaporated, powdered milk, coffee, instant noodles, canned meat and toilet soaps.
Manufacturers cited higher costs of raw materials, some of which are imported as well packaging materials and logistics. These include tamban for sardines; flour for instant noodles; mechanically-deboned meat for canned meats and; skim milk for processed milk.
Pascual also said the DTI has started informal discussions with the PCC on how they can share resources and utilize the latter’s powers against anti- competitive actions like hoarding and cartelization.
