In a statement, the Department of Trade and Industry (DTI) said it has issued show cause orders against 64 retailers, including 33 supermarkets and 31 wet market stalls, for selling goods at prices above the agencys suggested retail prices (SRPs). Among the supermarket chains issued the orders were the following: - SM (1 SM Hypermarket, 1 SM Supermarket and 1 Savemore store); - Puregold (6 stores in Sta. Ana, Manila; Pasay; Las Pinas; Valenzuela; Monumento; and Caloocan; - Robinsons Supermarket (Malabon); and - Rustans Supermarket (Quezon City). “These retailers are selling non-agricultural basic necessities and prime commodities at P0.40 to P13 above the SRPs which prompted the DTI to immediately take action by issuing them show cause orders to explain the high prices on their products,” Trade Undersecretary Victorio Mario Dimagiba said. Among the overpriced goods were batteries, beef loaf, canned sardines, coffee refill, condensed milk, corned beef, detergent bar, evaporated milk, fish sauce, instant noodles, luncheon meat, mineralized and purified water, powdered milk, soy sauce, toilet soap, and vinegar. “Therefore, we are enjoining all retailers to check their prices and make sure that these are conforming to the set SRPs,” he said. Under Republic Act No. 7581 or the Price Act, retailers caught overpricing or profiteering could face imprisonment of 5-15 years and fines of P5,000 to P1 million. In the same statement, Dimagiba said price monitoring conducted by DTI also showed that 57 stores, including 30 supermarkets and 27 wet market stalls, were found to have complied with the agencys SRPs. These compliant stores included 2 branches of SM Supermarket, 3 of SM Hypermarket, 3 of Savemore, 2 of Robinsons Supermarket, 2 of Isetann, 2 of Puregold, and 1 each of Rustans Supermarket and Landmark.
Posted on: Thu, 24 Jul 2014 09:04:01 +0000
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