MANILA, Philippines — The Department of Trade and Industry (DTI) continues its market monitoring efforts to ensure the accuracy of weights and prices of essential goods as it conducts its “Ikot Palengke” program.
Trade Secretary Alfredo Pascual led the inspection by the DTI’s Fair Trade and Enforcement Bureau (FTEB) yesterday at the Guadalupe Public Market and selected supermarkets in Makati City.
The inspection aimed to check the prices and supply of processed and agricultural basic necessities and prime commodities (BNPCs), as well as the accuracy of weights and measures and if the goods have appropriate price tags.
Senate committee on trade and industry chair Sen. Mark Villar also joined the DTI in inspecting the actual operations of vendors to see what’s causing the surge in prices of some agricultural products.
Also with Pascual during the inspection were Consumer Protection Group Undersecretary Ruth Castelo and FTEB director Marimel Porciuncula.
As shown during the inspection, Pascual said vendors in Guadalupe Public Market were using accurate weights and measures, as well as appropriate price tags.
Meanwhile, the inspected supermarkets within the vicinity conform to the Suggested Retail Prices Bulletin issued by the DTI on Aug. 12, 2022.
“Our goal is to protect consumers and urge our countrymen to support local products,” Pascual said in Filipino, referring to the DTI’s monitoring efforts.
“Our unceasing on-the-ground price and supply monitoring is also a strong warning that the department will pursue strict measures against unscrupulous business practices like hoarding, profiteering and cartels,” he added.
For his part, Villar commended the DTI for its Ikot Palengke program, emphasizing that fair transactions not only promote consumer confidence but also boost local industries.
The DTI said the strategic market monitoring seeks to address the issues of profiteering, hoarding and artificial shortages that affect prices. It also aims to ensure the availability of alternatives to BNPCs in the event of a supply shortage. – Paolo Romero