The Department of Trade and Industry (DTI) confirmed the immediate implementation of an automatic price freeze on all basic necessities following President Ferdinand “Bongbong” Marcos Jr.’s declaration of a National State of Calamity due to the widespread impact of Typhoon Tino.
In a Facebook post on Friday, November 7, the DTI said the price freeze will remain in effect for 60 days or until it is lifted by the President.
“Following President Ferdinand R. Marcos Jr.’s announcement that he has approved the declaration of a state of national calamity, the Department of Trade and Industry (DTI), as chair of the National Price Coordinating Council (NPCC), will immediately implement the automatic price freeze on all basic necessities,” the agency said.
“The price freeze will remain in force for 60 days, or until lifted by the President. The DTI has coordinated with all key NPCC implementing agencies to protect consumers during this critical period,” it added.
The DTI also assured the public that it continues to coordinate with manufacturers, retailers, and distributors to ensure a stable supply of goods across the country.
“The DTI is working round-the-clock with manufacturers, retailers, and distributors to ensure sufficient and steady stock of basic necessities and prime commodities. All DTI Regional and Provincial Offices are on heightened alert and mobilized to enforce compliance with the price freeze and maintain adequate supply nationwide,” the agency said.
Earlier, the DTI also guaranteed that no price increases would occur for basic goods in Western Visayas, one of the regions heavily affected by Typhoon Tino.