DTI, tiniyak ang epektibong pagpapatupad ng price ceiling sa bigas

DTI, tiniyak ang epektibong pagpapatupad ng price ceiling sa bigas;

Monitoring sa hoarding ng bigas, tuloy-tuloy

Transcript

00:00 The Department of Trade and Industry is concerned about the negotiators who are fighting for the price ceiling of rice.

00:07 The agency monitors the suppliers who are hoarding rice

00:14 which is the reason for the artificial shortage.

00:19 Noel Talacay has more.

00:21 I'm crying because I'm thinking of how to... I'm crying.

00:27 Ms. Rosalina is almost crying because she's looking for cheap rice

00:32 that's enough for her budget of P100 for 2 kilos of rice.

00:37 She can only afford P50 because she's feeding 5 people.

00:43 P100 is enough for her for a day.

00:47 I'm buying now but if I get P100, I don't know how I'll get rice.

00:52 The price of rice in this store is P50.

00:57 It's far from the price of the well-milled rice P46 and regular milled rice P41.

01:09 According to DTI, it's effective today.

01:12 In the public briefing earlier, DTI assured that it can be implemented

01:18 According to Trade and Industry Secretary Alfredo Pascual,

01:22 they will do a whole government approach in implementing the EO39.

01:28 We will have monitors that will go around.

01:34 The DA will give guidelines to distinguish the premium variety of the rice covered in the price act.

01:46 DTI said that the law will be enforced under the price act

01:51 that will prevent people from being jailed and fined.

01:54 At the level of retailers, those who violate the price ceiling

02:01 will be subject to the law, the price act,

02:06 the penalty of imprisonment of not less than one year or more than 10 years

02:11 and/or a fine of not less than P5,000 but no more than P1 million.

02:23 Suppliers who hoard rice or rice will also be monitored as a reason for the artificial shortage.

02:32 Another reason for the price of rice to rise is the law's enforcement against hoarding

02:38 by the Philippine Competition Commission and law enforcement.

02:43 Suppliers who manipulate through hoarding or capitalization will be fined

02:52 a minimum of five years up to 15 years imprisonment and a fine of P5,000, not more than P2 million.

03:03 The camera assured that they will continue to monitor their oversight function

03:09 to get the true information about the hoarding and price manipulation

03:16 not only in rice but also in other major products in the country.

03:21 Meanwhile, the camera supported the new EO39 of President Marcos Jr.

03:27 According to House Speaker Martin Romaldes,

03:30 the President needs to be on the lookout for the exact price of rice.

03:38 In addition, the camera's leader also consulted with a group of price importers and traders.

03:46 They discussed how effective the new Executive Order of President Marcos Jr. can be implemented.

03:53 Noel Talacay for the nation.