"Can we sacrifice a little instead of thinking how to make a profit during Christmas time?"

This declaration was made by Vice President Manuel “Noli” de Castro as he made an appeal to businessmen not to aim for too much profit this Christmas season and instead share whatever they can to help uplift the plight of typhoon-battered Filipinos.

Last Wednesday, the National Price Coordinating Council (NPCC) convened for a meeting in Makati City to try and resolve the pressing issues surrounding the implementation of price ceilings on prime commodities and fuel products.

De Castro said that the government is also considering an extension of price controls on basic and prime commodities in selected areas.

These may include Regions I and IV, the Cordillera Administrative Region, and parts of Metro Manila.

"The question now is whether to extend the price control," De Castro said.

De Castro, who is the council’s co-chair, pointed out that with talks of lifting the price cap, consumers are worried businessmen are going to increase prices of their commodities even beyond the normal level, to recover the "losses" they claim they have incurred during the price control implementation.

The price cap on both basic and prime commodities – a list which includes fresh and processed food, soap, and construction materials, among others – was imposed last September 26 when the government declared a state of calamity in the aftermath of tropical storm Ondoy.

Under the price control law (Republic Act 7581), price ceilings on basic necessities will remain in effect for 60 days while those on prime commodities will be lifted whenever the government decides so.