SENATOR Francis Pancratius N. Pangilinan on Monday urged the government to enforce a strict price freeze and intensify crackdowns on hoarders, profiteers, and cartels as the strong El Niño phenomenon threatens to raise food costs.
Mr. Pangilinan called on the Department of Trade and Industry, Department of Agriculture, Department of Health and the Price Coordinating Council to heighten market monitoring, enforce applicable price freeze and impose price ceilings when warranted to protect consumers from unreasonable price hikes.
“An impending calamity — which will only bring further hardship to our fellow citizens, especially farmers and fisherfolk who also shop at the markets — should not be used as an opportunity for profit,” the senator said in a statement.
Citing Section 6 of Republic Act No. 7581, or the Price Act, Mr. Pangilinan said the prices of basic necessities in areas declared under a state of calamity are automatically frozen for a maximum of 60 days.
Violating government-mandated price freezes has sanctions of imprisonment of one to 10 years, fines of P5,000 to P1 million, or both.
Relevant government agencies and authorities must also investigate and prosecute individuals and entities engaged in hoarding, profiteering and cartels exploiting drought and water shortages to manipulate food supply and prices, he said.
The Price Act prohibits hoarding, profiteering and cartels involving basic necessities, with illegal price manipulation punishable by imprisonment of five to 15 years and a fine ranging from P5,000 to P2 million.
Mr. Pangilinan emphasized that all mechanisms to protect consumers from inflated prices must be paired with safeguards in food production and the livelihoods of farmers and fisherfolk, who are particularly vulnerable to prolonged drought and water shortages. — Francessca S. Abalos