Supply of basic goods enough following Paeng onslaught - DTI

The Department of Trade and Industry (DTI) on Wednesday said there is enough supply of basic necessities, following the impact of Severe Tropical Storm Paeng (international name: Nalgae).
 
In a statement, the DTI said it is working with the Philippine Chamber of Food Manufacturers to ensure that basic necessities and prime commodities (BNPC) are replenished timely and constantly.
 
“The price and supply of basic necessities and prime commodities are generally stable based on the latest nationwide situational report,” Trade Secretary Alfredo Pascual said.
 
“We remind businesses and traders to comply with the price freeze on basic necessities in areas under a state of calamity,” he added.
 
Under the Price Act, prices in areas under a state of calamity are automatically frozen for 60 days, unless sooner lifted by the President.
 
President Ferdinand “Bongbong” Marcos Jr. signed Proclamation 84 on Wednesday, declaring a state of calamity in Regions IV-A (Calabarzon), V (Bicol), VI (Western Visayas), and the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM).
 
Paeng exited the Philippine Area of Responsibility on Monday afternoon, while Tropical Storm Queenie, which has since been downgraded to a remnant low, entered.
 
The latest data available from the Department of Agriculture estimates that partial damage and losses to the sector caused by Paeng have reached P1.33 billion as of 3 p.m. on Monday, October 31. — VBL, GMA News