Tuesday Nov, 29 2022 02:41:14 AM

MTIT declares price freeze for basic goods in BARMM amidst calamity

Economic News • 21:00 PM Wed Aug 31, 2022
Aisah Abas/BIO

COTABATO CITY—The prices of basic necessities (BN) in the Bangsamoro region are frozen, following the declaration of calamity due to massive flooding, the Ministry of Trade, Investments and Tourism (MTIT) announced Tuesday. 

This is in line with Republic Act (RA) 7581 also known as the Price Act of the Philippines, which suggests that “prices of basic necessities (BN) are automatically frozen at their prevailing prices for sixty (60) days once a state of calamity (SOC) is declared in an area.”

Among the BN 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.

“We are closely coordinating with other government agencies, manufacturers, and retailers to ensure availability and continuous supply of basic goods in the market,” Hussein Biruar, director of Bureau of Trade and Industry said.

The Ministry also warns retailers to refrain from selling basic necessities more than the specified prices. 

Consumers may report violators to MTIT Regional Office and Provincial Offices at the hotline numbers specified below:

MTIT Regional Office: 09678255847, 09364601973 or 557-2819
MTIT Maguindanao: 09974979647, 9300848942 or 557-2474
MTIT Lanao del Sur: 09811167616
MTIT Tawi-Tawi: 09275177701 or 09630964398
MTIT Sulu: 09754246051
Ministry of Trade, Investments and Tourism- Basilan Provincial Office: 09166123265

“We are reminding the retailers that there should be no price movement on these goods while the price freeze is in effect,” Biruar said.

Pagpatay sa mga kasapi ng CAFGU sa Buldon, Maguindanao Norte, kinundina ng 6th ID

CAMP SIONGCO, Maguindanao del Norte – Mariing kinundena ng pamunuan ng 6th Infantry Division ang pamamaril sa mga kasapi ng civilian active auxiliary...

Bigtime oil price rollback on Tuesday, Nov. 29

MANILA – Oil companies today announced another round of oil price rollback that will take effect Tuesday morning. The pump prices of diesel will...

Explosion naganap sa Pikit, North Cotabato

ISANG pagsabog ang natala sa Sitio Pogpog Brgy., Poblacion, Pikit, Cotabato bandang alas 10:20 kagabi, November 27, 2022. Ayon sa mga residente,...

Unknown to him, man sells carnapped motorbike to its owner

NABULAGA ANG DALAWANG mga suspek matapos na malamang ang pinagbentahan nila ng kanilang nakaw na motorsiklo ay ang mismong may-ari nito. Una nito...

P102,000 worth shabu seized from 3 drug den operators

COTABATO CITY – Anti-narcotics agents seized P102,000 worth of shabu from three operators of a clandestine drug den entrapped in Datu Odin Sinsuat,...