Fines of up to P1M to be imposed on stores violating SRP —DTI

Grocery owners who will be caught selling products higher than the suggested retail price (SRP), without acceptable explanation, may face fines of up to P1 million, a television report said Wednesday.

Quoting an official of the Department of Trade and Industry (DTI), Unang Balita said stores and grocery owners are sternly warmed against the selling of products way beyond the SRP of Noche Buena items and other basic commodities.

DTI Undersecretary Teodoro Pascua was quoted as saying that the supply of Noche Buena items are still stable so there is no reason to increase prices, and that a fine of up to P1 million would be exacted against anyone violating the SRP, unless an acceptable explanation is made.

DTI personnel on Tuesday inspected several grocery stores to check if SRPs of the good and products they are selling are followed.

Two grocery stores in Mandaluyong City were warned for not putting proper price labels on their goods.

Authorities, however, did not catch possible SRP violators during the inspection.

If they could not give an acceptable reason for not putting price labels, the owner of the two grocery stores may have to pay a fine of up to P50,000. —Erwin Colcol/LBG, GMA News