News Release

PBBM’s whole-of-gov’t approach backed to fight price manipulators during La Niña

The Department of Trade and Industry (DTI) has reaffirmed its support to the whole-of-government approach of President Ferdinand R. Marcos Jr. to combat price manipulators and to protect consumers amid the anticipated La Niña phenomenon.

In a statement, DTI Secretary Fred Pascual said their commitment to diligent nationwide price monitoring remains unwavering. This is evident in their intensified efforts to ensure effective oversight in preparation for La Niña, he added.

“We are intensifying our efforts to ensure even more effective oversight, particularly as we brace for the impacts of La Niña,” Secretary Pascual said in the statement.

“In addition, we are working closely with the Department of the Interior and Local Government (DILG) to reactivate the Local Price Coordinating Councils (LPCCS), which are crucial partners in our price monitoring initiatives,” he added.

Secretary Pascual also reminded the Filipino people that automatic price control comes into effect in areas declared under state of calamity due to La Niña.

He said the DTI is steadfast in enforcing the regulations. He warned that any individual caught engaging in illegal price manipulation would be prosecuted to the fullest extent of the law.

This coordinated efforts between the DTI, DND, DA, and DILG are aimed at ensuring fair prices and protecting the welfare of consumers across the nation. This was emphasized during the recent presidential task force meeting on El Niño response at Camp Aguinaldo.

The collaboration also underscores the government’s unified approach to safeguard the public against exploitative practice.

During the meeting, the DND committed to supporting agencies involved in price monitoring of basic necessities and prime commodities. ###