At least six manufacturers of basic necessities and prime commodities have withdrawn their price increase requests following their meeting with officials of the Department of Trade and Industry.
DTI Secretary Alfredo Pascual yesterday said the manufacturers reached a consensus to hold off price increases until the end of the year.MANILA, Philippines — At least six manufacturers of basic necessities and prime commodities have withdrawn their price increase requests following their meeting with officials of the Department of Trade and Industry.
On Sept. 21, Pascual and other DTI officials met with 29 manufacturers and two associations of canned sardines, coffee, processed milk, bread, salt, detergent, candles, condiments, bottled water, canned meat, toilet soap and batteries. At the same press conference, Pascual also said the DTI is looking at rounding off the prices of BNPCs to make them divisible P0.25, citing a price rounding scheme by the Bangko Sentral ng Pilipinas .
Yesterday, Pascual and other DTI officials elaborated on the agency’s initiatives for the celebration of Consumer Welfare Month, emphasizing that DTI remains committed to its mandate of protecting the rights of consumers and empowering them to make significant contributions to the Philippine economy.
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