Traders urged to follow SRPs

Mar. 06, 2015

The Department of Trade and Industry (DTI) is urging the business sector in Davao Region to strictly follow the approved suggested retail prices (SRPs) of basic necessities and prime commodities to avoid fines and penalties.

DTI issued the statement amid the uproar over rising prices of fuel and other related products.

Basic necessities include canned sardines, processed milk (condensed, evaporated, and powdered), bread, instant noodles, detergent soap, bottled water (distilled, purified, and mineralized), and candles. Meanwhile, among the prime commodities are luncheon meat, meat loaf, corned beef, beef loaf, vinegar, fish sauce (patis), soy sauce, toilet/bath soap, and batteries.

Section 2 of Republic Act No. 7581 or the Price Act said that “It is the policy of the State to ensure the availability of basic necessities and prime commodities at reasonable prices at all times without denying legitimate business a fair return of investment.” Thus, prices of these products must just be within the set SRPs, DTI said.

A business establishment found guilty of violating the Price Act will also face a minimum administrative fine of P20,000 to a maximum  P1,000,000 under DTI’s Department Administrative Order (DAO) No. 06, series of 2007.

DTI-Davao Region Officer-in-Charge Maria Belenda Q. Ambi said they are consistently monitoring business establishments to make sure that they adhere to the set SRPs.

“There will be no let-up in our monitoring of prices of basic necessities and prime commodities as well as fair trade law enforcements to ensure that prices and supply situation in the region are stable,” she said.

Depending on the brands, the following are among the approved SRPs, as of February 23 this year:  canned sardines in tomato sauce (155g) – P12.50 to P13.25; powdered milk (150g) – P45.15 to P73.30; coffee refill (25g) – P16.75 to P20.75; coffee refill (50g) – P33.50 to P41.00;  Pinoy tasty (450g) – P36.50; Pinoy pandesal (10 pieces/pack or 250g) – P22.25; instant noodles (55g) – P6.30 to P7.10; detergent/uandry soap (400g) – P17.25 to P19.00; luncheon meat (165g) – P27.50 to P30.55; and meat loaf (150g) – P15.25 to P17.00.

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