ILOILO CITY — The Department of Trade and Industry (DTI) has found establishments on Boracay Island compliant with the price freeze that was imposed following the declaration of the state of calamity there and island’s temporary closure last month.
DTI Regional Director Rebecca M. Rascon said their team began monitoring the price freeze on the island over the weekend.
“Based on their report, there was no violator since the prize freeze on basic necessities and prime commodities (BNPC) was imposed,” Rascon said Tuesday.
Basic necessities include canned fish and other marine products, processed milk, coffee, laundry soap, detergent, candles, bread, salt, potable water in bottles and containers, and locally-manufactured noodles.
DTI conducts regular monitoring of BNPC every month, the latest of which were undertaken last March 17, April 23 and 26.
Comparing the prices in March and April, DTI was able to detect a slight increase in the prices of coffee and some milk products, amounting to less than one peso compared to the suggested retail price.
However, comparing the prices on March 17 and after the declaration of the state of calamity, DTI has not registered any increase. They were also warned earlier not to increase their prices because once the prize freeze takes effect, the basis will be the price a month ago, which is March 17.
“There was no violator. There was no movement in prices. It has become steady compared to the last monitoring,” she said.
Rascon said that following Boracay’s closure, establishments have no reason to raise their prices due to lack of demand.
She added that violation of the BNPC carries penalties that could range from PHP5,000 to PHP1 million, depending on the establishments’ capitalization.
The violation could either be “motu proprio” or DTI itself has discovered the violation or there are complaints from consumers.
Rascon said that with the price freeze, monitoring is done daily, covering 11 establishments on Boracay Island. (PNA)
