The Department of Trade and Industry (DTI) has asked manufacturers to hold prices at present Suggested Retail Price or SRP levels until year-end.

Secretary Peter B. Favila made this appeal after getting inputs from the industry and assurance of support to keep prices stable.

Favila was inclined to recommend to the President the removal of the price control without lifting the declaration of state of calamity, provided that the government and the business sector all agree to ensure that there is discipline in the trade which means no hoarding and no profiteering.

He explained that it is not the intention of the government to get in the way of what economics dictate, however, when the situation is needed, the government has to implement what is allowed by the law.

“We have proposed that instead of price control, we can come up with “Focused Programs” in areas that are still reeling from the devastation of typhoon Ondoy and Pepeng,” said Favila.

The National Disaster Coordinating Council (NDCC) has identified Regions I and IV, the Cordillera Autonomous Region, and parts of the National Capital Region as those still in the process of recovering from the typhoons.

Meanwhile, Favila has ordered DTI’s regional and provincial offices to add monitoring teams and increase the frequency of market visits not only in Metro Manila but in the provinces as well, and raise the alert for any movement in prices.