DTI Sec. Pascual: EO sa price cap ng bigas, hindi price freeze
DTI Sec. Pascual: EO sa price cap ng bigas, hindi price freeze
Mga lalabag sa kautusan, maaaring makulong at pagmultahin sa ilalim ng Price Act at paglabag sa price ceiling
Mga lalabag sa kautusan, maaaring makulong at pagmultahin sa ilalim ng Price Act at paglabag sa price ceiling
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NewsTranscript
00:00 The Department of Trade and Industry has confirmed that it will be more strict in monitoring the price and supply of rice in the country.
00:08 This is a step in the new executive order approved by President Ferdinand R. Marcos Jr. to avoid manipulation of the price of rice.
00:18 Noel Tanakay was in the center of the live news.
00:24 Audrey was now convinced by the Department of Trade and Industry or DTI that the Executive Order or EO No. 39 will be implemented properly
00:34 where it will put price ceilings on rice.
00:37 President Ferdinand R. Marcos Jr. has recently approved it.
00:42 Trade and Industry Secretary Alfredo Pascual has insisted that the Executive Order No. 39 of President Marcos Jr.
00:52 is not yet implemented.
00:54 Earlier, he said that the EO No. 39 is only applicable to the price of wheat, milled rice and regular milled rice.
01:04 He also said that it is effective today so that it will be strict and strict.
01:11 The DTI and the Agriculture Department have joined forces in monitoring the price of rice in markets.
01:21 He will monitor the prices of rice so that he can sue under the Price Act for price ceilings that can be put up for not less than a year and not more than 10 years.
01:35 He will also fine for not less than P5,000 and not more than P10 million.
01:43 He will also fine for the hoarders who are trying to violate the Philippine Competition Commission or PCC
01:52 and other law enforcement agencies so that they can avoid manipulation of the price of rice in the market.
02:00 They will observe that there are noticeable increases in the price of rice in the past week.
02:07 Here is the statement of Trade and Industry Secretary Alfredo Pascual.
02:12 We will monitor the prices.
02:19 The DA will provide guidelines so that the premium variety will be distinguished in the variety covered by the Price Act.
02:30 To our fellow countrymen, the EO39 is a step to ensure that our rice and our health are maintained at the best possible level.
02:43 We are here for your good and to ensure that there is fair competition in our markets.
02:56 Audrey, according to Secretary Pascual, they will do a whole government approach to implement the EO39
03:06 and to ensure that no one will be manipulated in the price of rice in the country. Audrey?
03:13 Noel, do rice traders have a reaction to this price ceiling that is being implemented now in the price of rice?
03:22 So for Audrey, for now, we will monitor the reaction of rice traders to the EO39.
03:37 But Secretary Pascual also clarified that not all rice is covered by Executive 39.
03:44 Thank you very much, Noel Tanakay.
03:47 Will's another.