Senator Francis “Kiko” Pangilinan urged the government on Monday, November 2, to strictly enforce price freezes in areas under a state of calamity and step up efforts against hoarders, profiteers, and cartels as the country prepares for a strong El Niño.
As chair of the Senate Committee on Agriculture, Food and Agrarian Reform, Pangilinan called on the Department of Trade and Industry (DTI), Department of Agriculture (DA), Department of Health (DOH), and the Price Coordinating Council to intensify market monitoring and recommend price ceilings when necessary to protect consumers from unfair price spikes.
“An impending calamity—which will only bring further hardship to our fellow citizens, especially farmers and fisherfolk who also shop at the markets—should not be used as an opportunity for profit,” Pangilinan said.
“In times of crisis, consumers must be protected against exploitation,” he added.
Under Section 6 of Republic Act No. 7581, or the Price Act, as amended by Republic Act No. 10623, basic necessities in calamity-declared areas are automatically placed under price control at prevailing rates.
Pangilinan urged law enforcement and regulatory agencies to investigate individuals and entities exploiting the threat of drought and water shortages to manipulate food supply and prices.
Emphasizing that illegal price manipulation is prohibited by law, the senator called for accountability that extends beyond small-scale vendors to target major business owners and syndicate masterminds.
“I call on implementing agencies, local price councils, and law enforcement authorities to gather evidence and pursue criminal and administrative cases, where warranted, against those responsible for illegal price manipulation. Enforcement must not end with frontline sellers. We must target the very top,” Pangilinan emphasized.
“The public’s call is to imprison those who exploit the situation. It’ll be pointless if only small-scale vendors are targeted. We must hold the major business owners, proprietors, and the masterminds behind the syndicates involved in hoarding and price manipulation accountable,” he stated.
Under the law, illegal price manipulation carries penalties of five to 15 years in prison and fines ranging from ₱5,000 to ₱2 million. Violations of price freezes or mandated ceilings are punishable by one to 10 years of imprisonment, fines from ₱5,000 to ₱1 million, or both.
Furthermore, public officials who conspire or conceal violations face permanent disqualification from public office alongside other penalties.