Senator Francis “Kiko” Pangilinan called on relevant government agencies to keep close watch for hoarders, profiteers, and cartels as the country braces for the effects of the Super El Niño.
Pangilinan stressed that the government must implement a price freeze in all areas currently in a state of calamity, as stated under Republic Act No. 7581 or the Price Act, reported RH 28 Raymund Dadpaas.
The senator urged the Department of Trade and Industry (DTI), the Department of Agriculture (DA), and the National Price Coordinating Council (NPCC) to intensify market monitoring to protect consumers from being taken advantage of.
Furthermore, Pangilinan appealed to agencies and law enforcement to ensure accused business owners are arrested and held accountable.
Under the Price Act, those proven guilty of involvement in profiteering, hoarding, and cartel practices may face imprisonment of up to 15 years or a fine of ₱5,000 to as much as ₱2 million.
