THE Department of Trade and Industry (DTI) said they don’t expect any movements in the prices of basic necessities and prime commodities with Suggested Retail Price (SRP), which is strictly being monitored by the agency.
During the Laging Handa public briefing, DTI Undersecretary Ruth Castello said that although manufacturers have asked for them to be allowed to raise prices of their products, she emphasized that there are existing guidelines regarding this.
According to Castello, as long as the DTI has not approved their request for price adjustments, this will not be effective.
These kinds of requests, she said, are evaluated carefully by the DTI and in this case, by the new DTI Secretary Alfredo Pascual.
Once Pascual approves the request for price adjustment, that’s the only time that it will move.
But for now, Castello said they will continue to monitor the pricing of basic commodities.
Castello reminded that even though there was a change in administration, the SRP will remain effective and this cannot be moved by manufacturers without the DTI’s distinct approval.