DTI, NBI, PNP-CIDG seize P15M in overpriced goods

The Department of Trade and Industry (DTI), along with the National Bureau of Investigation (NBI) and the Philippine National Police-Criminal Investigation and Detection Group (PNP-CIDG), has confiscated over PHP15 million worth of essential goods amid the enhanced community quarantine.

Secretary Ramon Lopez of the DTI stated that the campaign against establishments that raise prices and take advantage of the COVID-19 situation will continue.

Between March 18 and 28, a total of 62 operations were conducted nationwide, leading to the arrest of 123 individuals for hoarding and selling overpriced medical supplies.

A Joint Memorandum Circular (JMC) was issued by the DTI, Department of Agriculture (DA), and Department of Health (DOH) on March 18 to ensure the strict implementation of a price freeze on basic necessities and prime commodities for 60 days.

Local Price Coordinating Councils (LPCCs) have been reactivated to monitor the prices of goods in urban centers across the country.

The primary objective of these measures is to safeguard consumers from undue price increases during the state of calamity.

Violators of the Price Act face fines ranging from PHP5,000 to PHP2 million and imprisonment between five and 15 years.

Consumers are encouraged to report any business establishments selling items beyond the price freeze by calling hotline 1384 or 1-DTI.