PBBM ORDERS PRICE FREEZE ON BASIC COMMODITIES UNTIL YEAR-END

PRESIDENT Ferdinand R. Marcos Jr. has directed the Department of Trade and Industry (DTI) to implement a price freeze on basic and prime commodities until the end of the year to ensure price stability during the holiday season.

Presidential Communications Office (PCO) Undersecretary and Palace Press Officer Claire Castro announced the directive in a media interview on the sidelines of President Marcos’ participation in the 47th Association of Southeast Asian Nations (ASEAN) Summit and Related Summits in Kuala Lumpur, Malaysia on Monday.

“Alinsunod sa kautusan ni Pangulong Ferdinand Marcos Jr. na hindi magkakaroon ng paggalaw sa mga presyo ng mga bilihin bago ang holiday season, inanunsyo ng Department of Trade and Industry (DTI) na walang price increase sa basic at prime commodities sa bansa hanggang sa matapos ang kasalukuyang taon,” Castro said.

Castro said that before departing for Kuala Lumpur last Saturday, President Marcos instructed the DTI to ensure the strict monitoring and implementation of the maximum suggested retail prices (SRP) for imported rice and other essential food items.

She added that the President also ordered the DTI to continue its coordination with manufacturers to maintain current price levels and prevent unwarranted price hikes.

According to Castro, Trade Secretary Ma. Cristina Aldeguer-Roque assured that all industry stakeholders are working closely with the government to stabilize market prices, particularly during the holiday period.

The Palace official added that all concerned agencies are doing their part to keep prices fair and reasonable for consumers.