DTI: Price cap not for all rice variants


The Department of Trade and Industry (DTI) has reiterated some points in Executive Order (EO) No. 39 that sets a price ceiling for rice.

During the Laging Handa public briefing Friday, DTI Secretary Alfredo Pascual said the PHP41 and PHP45 price ceilings are only for regular and well-milled rice, respectively.

"I just want to clarify that the price cap is not for all (variants of) rice... There are varieties that are not covered by the Price Act," Pascual said in Filipino.

He also clarified that EO 39 does not impose a price freeze but it mandates the highest price that retailers can sell regular and well-milled rice to the consumers.

Under the new directive, the DTI and the departments of agriculture, interior and local government, and justice will be leading the price monitoring.

"The price ceiling is aimed at protecting Filipino consumers from unfair and exploitative pricing practices. Both the DTI and the broader Philippine government are focused on safeguarding lower-income families and vulnerable communities, who are most affected when prices of essential goods surge unexpectedly," Pascual said in a separate statement

Source: Philippines News Agency