Manila, Philippines – After President Ferdinand R. announced Marcos Jr., upon approving the recommendation of the National Disaster Risk Reduction and Management Council (NDRRMC) to declare a State of National Calamity in the country, the Department of Trade and Industry (DTI) immediately implemented an automatic price freeze on all basic commodities.
This follows the devastation caused by Typhoon Tino, and the government’s preparations as Severe Tropical Storm Fung-Wong, which will be named Typhoon Uwan, approaches the Philippine Area of Responsibility.
According to a statement released by the DTI, as Chair of the National Price Coordinating Council (NPCC), the price freeze will take effect immediately on basic necessities and will remain in place for 60 days unless the President lifts it earlier.
Meanwhile, the agency continues to coordinate with NPCC implementing agencies to ensure consumer protection during times of need.
The DTI also stated that it is ready, in collaboration with manufacturers, retailers, and distributors, to ensure sufficient supply nationwide in preparation for Typhoon Uwan.
Meanwhile, all DTI Regional and Provincial Offices are on heightened alert to ensure they comply with the price freeze being implemented in the country.—Grachella Corazon, Eurotv News