Price freeze implemented in Camiguin province

The Department of Trade and Industry (DTI) Camiguin Provincial Office has announced that a 60-day price freeze on necessities and prime commodities will be implemented in the province, the Philippine Information Agency in Northern Mindanao reported.

The directive stemmed from the declaration of State of Calamity by the Camiguin Provincial government due to the adverse effects of the El Niño phenomenon.

According to Republic Act 7581 or the Price Act of the Philippines Section 6, prices of goods should remain stable until the state of calamity is lifted.

Business establishments in the province are enjoined to abide by the law to avoid penalties. Those found selling commodities above the prevailing prices could face fines of up to P1 million or imprisonment for a maximum of 10 years.

The DTI-Camiguin team is monitoring business establishments to ensure the strict implementation of the directive. — BAP, GMA News