Price freeze declared in BARMM
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Price freeze declared in BARMM

by | Sep 1, 2022 | Asia, News | 0 comments

COTABATO CITY: Prices of basic necessities in the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM) have been frozen because of a calamity from massive flooding, the Ministry of Trade, Investments and Tourism (MTIT) announced on Thursday.

ON THE JOB An official of the Ministry of Trade, Investments and Tourism monitors prices of basic necessities in a shopping mall in the Bangsamoro region under a price freeze imposed by the regional leadership. CONTRIBUTED PHOTO

This was in line with Republic Act 7581, or the “Price Act of the Philippines,” which suggests that “prices of basic necessities (BN) are automatically frozen at their prevailing prices for sixty days once a state of calamity 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 the Bureau of Trade and Industry, said.

The MTIT warned retailers to refrain from selling basic necessities more than their specified prices.

Consumers may report violators to the MTIT regional office and provincial offices at hotline numbers: 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; and MTIT, 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.

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Author: Julmunir Jannaral


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