Vargas urges DTI to monitor prices of Noche Buena items

December 5, 2022 Ryan Ponce Pacpaco 322 views

HOUSE Committee on Social Services Vice Chairman and Quezon City 5th District Representative PM Vargas has urged the Department of Trade and Industry (DTI) to strictly monitor the prices of Noche Buena items amid the holiday season.

In a recently filed House Resolution (HR) No. 612, Vargas also appealed to manufacturers and sellers to observe the recommended price ceilings for basic commodities to ease the burden of Filipinos who are still affected by the economic challenges of the pandemic.

Recognizing that inevitable increase in prices of basic goods, the DTI requested manufacturers of holiday food products last September 2022 to implement a maximum of 10% price increase.

In its recently published Noche Buena price guide, the DTI has reported that 195 out of 223 products have raised prices, with nearly half increasing their prices by more than 10%.

“As we expect the increase in demand for Noche Buena goods and basic necessities due to the holiday season, it is imperative that prices of such commodities are regulated under the context of the COVID-19 pandemic to help Filipino consumers while also protecting the rights and income of manufacturers and sellers,” Vargas said in his resolution.

The Quezon City lawmaker also highlighted that government must ensure the “just regulation” of prices of goods to alleviate the burden of Filipinos, especially this holiday season and in the spirit of “Bayanihan” and “malasakit.”

A similar resolution was filed in the 18th Congress by Vargas’ brother and predecessor, incumbent QC Councilor Alfred Vargas, in response to last year’s skyrocketing prices of basic goods.

“While we slowly recover from the pandemic thanks to innovative fiscal and economic reforms being rolled out by the current administration, both producers and consumers must work together and be united to face these challenges, especially amid the holidays,” Vargas added.