Two House committees today, in a formal Resolution, jointly urged the President to impose a suggested retail price (SRP) on basic and prime agricultural commodities to provide immediate relief to Filipinos in the wake of spiralling prices.
The House Resolution is entitled "Resolution urging the President to provide immediate relief to the consumers by directing the
Also in attendance were Mr.
The joint panel members present who actively voiced their respective concerns and proposals which helped craft the resolution were: Deputy Speaker
Sec. Pangilinan and other officials expressed support for the House joint-panel initiative relative to the option of imposing a suggested retail price scheme to curb the rising prices of basic food items, especially rice, garlic, sugar, and other prime commodities.
The House Resolution stressed: "It is the policy of the State to provide effective and sufficient protection to consumers against hoarding, profiteering and cartels with respect to the supply, distribution, marketing and pricing of said goods, especially during periods of calamity, emergency, widespread illegal price manipulation and other similar situations."
The "Price Act" or R.A. 7581 was signed into law on
"Recent increases in the prices of rice, fresh pork, beef and poultry meat, and garlic, among others, clearly shows acts of hoarding and price manipulation," the resolution noted.
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