SAN FERNANDO CITY, Pampanga, Philippines — Officials of the Department of Trade and Industry (DTI) in Region 3 warned Friday that hoarder and profiteers will face a P2-million or jail time as it issued a list of prevailing prices of basic goods covered by a “prize freeze” in Central Luzon.

The DTI-Region 3 said its move is backed by the law, citing the penalty under violations of Section 6 of Republic Act (RA) 7581 (Price Act)

Since the Central Luzon region is under a state of calamity due to the destruction wrought last week by back-to-back typhoons “Pedring” and “Quiel,” the DTI warned business owners and retailers not to take advantage of typhoon-hit consumers.

The prize freeze on a list of basic commodities finalized last Thursday is now in effect in the provinces of Aurora; Bulacan; Nueva Ecija; Pampanga; Tarlac, and Bataan, and the city of Olongapo in Zambales.

DTI Region 3 Information Officer Wilfred Carbonell said the penalty for profiteering or violation of the price freeze is P1 million in fines or imprisonment of one to five years.

If the case is hoarding, Carbonell said, violators can face up to P2 million in fines and/or imprisonment of five to 15 years.

Carbonell said that “under a state of calamity, an automatic price control is implemented as contained in Section 6 of RA 7581 otherwise known as the Price Act as a preventive measure to avoid chaos that may result from overpricing of basic goods such as rice, processed milk, canned goods, coffee, laundry soap, detergent, candles, bread, emergency lights batteries and salt during times of calamities.”

Hence, the prices of basic goods in the mentioned areas excluding agricultural products should remain in their pre-Pedring levels.

Carbonell added that “upon declaration of state calamity by the local government, a price control can be implemented for the duration of 60 days unless lifted sooner by either the local sanggunian or by the President of the Republic of the Philippines.”

Meanwhile, the Department of Public Works and Highways (DPWH) in Region 3 suspended the implementation of the P170-million Arayat-Apalit Road asphalting project.