COTABATO CITY—The Ministry of Trade, Investments and Tourism (MTIT) on Sunday reminded the traders and business establishments to comply with the law mandating a price freeze for basic necessities and medical supplies in BARMM affected by Tropical Storm Paeng.
This is under Proclamation No. 4 s. of 2022 issued on Oct. 29 by Chief Minister Ahod Ebrahim, declaring the Bangsamoro region under a state of calamity due to the devastation and damages of TS Paeng.
“We appeal to the business sector to adhere to the price freeze of basic commodities and help us in ensuring that supplies of food in the market is enough,” Minister Abuamri Taddik said.
Under the Republic Act No. 7581 or Price Act, a price freeze shall be imposed on basic necessities in areas under a state of calamity for sixty (60) days.
He has also warned the business establishments that will violate price freeze.
“Establishments that violate the law [price freeze] could face an administrative case. There is a penalty of fine and imprisonment for those who go against the law,” Taddik said.
Violators could face a prison term of one to 10 years or fines ranging from Php5,000.00 to Php1-million or both.
MTIT also urged its provincial directors to coordinate with Local Government Units (LGUs) and Local Price Coordinating Councils (LPCCs) and submit weekly monitoring reports to the regional office.
Among the basic necessity products to be monitored by the MTIT are canned fish, locally manufactured instant noodles, bottled water, bread, processed milk, coffee, candles, laundry soap, detergent, and salt.
“Your support and assistance in these emergencies are much needed by the people, especially those in the communities in the Bangsamoro region hit by Tropical Storm Paeng,” Taddik added.
The price freeze shall automatically be lifted on Dec. 26, unless sooner lifted by the Chief Minister. (Johaira Sahidala/BIO)
