Increased Prices of Basic Commodities in Typhoon Odette-Affected Areas Earns Criticisms
The prices of basic commodities in areas affected by Typhoon Odette drastically increase amid price freeze.
Last week, Typhoon Odette causes severe devastation over some parts of the country. It causes massive flooding in some provinces and destroyed numerous homes due to strong winds and incessant rains.
The tropical cyclone leaves several residents without home and even nothing to start with. Odette uprooted trees and destroyed numerous establishments in various provinces.
Unfortunately, some business establishments and entrepreneurs take advantage of the situation and imposed hike to the prices of basic commodities amid the recent calamity. The price of drinking water even drastically increased.
Atty. Gaby Concepcion has shared her opinion regarding the surge of prices of basic commodities. She said that entrepreneurs who were involved in overpricing goods can face corresponding sanctions and penalties.
Concepcion cited Republic Act No. 7581 or price act announced that if a certain area has been declared under a state of calamity, automatic price freeze must be imposed. Price control includes LPG and kerosene.
The price cap may last until 60 days unless the president will lift it. Entrepreneurs adding more than 10 percent of its original price will fall into illegal acts of price manipulation. She also confirmed that drinking water belongs to basic commodities.
Anyone who will be caught committing illegal price manipulation could face five to 15 years jail imprisonment and fine worth P5, 000 to P2, 000, 000. Price ceiling offenders can also face one to 10 years imprisonment and fine of P5, 000 to P1 million.
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