Price freeze in Zambo lifted Print
Saturday, 05 August 2017 12:10

The Local Price Coordinating Council (LPCC) has lifted the price freeze order in Zamboanga City.

The LPCC in a meeting at City Hall yesterday passed a resolution, officially recalling its Resolution No. 1, thereby lifting the price freeze order which was put in place following the declaration of martial law in Mindanao by President Rodrigo Duterte on May 23.

The LPCC, however, will continue to strictly monitor the prices of basic necessities and commodities in the City to ensure that all will remain within the range of their suggested retail prices (SRPs). The DTI and all implementing agencies covered by the Price Act have been tasked to intensify its monitoring efforts.

Aside from monitoring efforts, the LPCC also required its member agencies to submit monthly monitoring reports to the local government.

The LPCC said that the price freeze order officially terminated on July 23 at the end of the initial 60-day period of the martial law. Upon the extension of martial law, the LPCC sought the counsel of the Department of Trade and Industry (DTI) and the National Price Coordinating Council (NPCC) which recommended the lifting of the price freeze order.

In an interview with People’s Television Network (PTV), DTI Secretary Ramon Lopez announced that there will be no extension of the price freeze following their meeting with the NPCC.

“May threat pa rin security wise around Marawi, but in terms of supply of goods and services, yung negosyo, wala kameng nakitang threat. It’s business as usual. Kaya saaming discussion, ang recommendation ng council ay huwag ng i-extend ang price freeze nor is there a need for a price ceiling,” Lopez said.-(Jasmine Mohammadsali/PR)