On January 24, 2024, the National Price Coordinating Council (NPCC) convened under the diligent leadership of Department of Trade and Industry (DTI) Secretary Fred Pascual. The meeting, aimed at ensuring the availability of basic necessities and prime commodities (BNPCs) at reasonable prices, also sought to enhance safeguards against unjustified price increases.
The council, guided by the DTI, was poised to address pertinent issues involving BNPCs, showcasing the commitment of the government to ensure a fair and stable market for consumers and producers alike.
The Philippine Chamber of Food Manufacturers Inc. (PCFMI) and the United Broilers Raisers Association, Inc. (UBRA) raised concerns regarding the movement of pork and other raw materials within agricultural zones due to restrictions related to the occurrence of the African Swine Flu (ASF).
In response, the Department of Justice (DOJ), volunteered to establish a Technical Working Group (TWG) to correct the policies and procedures being implemented by the LGUs, in accordance with existing laws.
The Department of Energy (DOE) informed the council about potential supply disruptions due to geopolitical factors such as escalating Middle East tension and elevated war risk premiums. The DOE also discussed that the setting of contract prices for liquefied petroleum gas (LPG) is on a monthly basis only.
As a response, the council requested the DOE to reflect monitored nationwide prices of LPG on their website for the information of consumers.
Some industrial users approached the DTI on facing the challenge of a low supply of sugar. However, according to the Sugar Regulatory Administration (SRA), it is not the issue at the moment. The DTI requested SRA to assess consumer goods that might affect sugar.
The DTI presented updates on the newly issued Suggested Retail Price (SRP) of BNPCs and the factors for its determination. The prices of NB products are being adjusted due to the increase in the prices of both local and imported raw materials, the high cost of packaging materials, and freight costs, among others.
In the meeting, the council also proposed the DA to look at the possibility of conducting weekend monitoring activities and its digitalization in collaboration with DTI and the Department of Information and Communications Technology (DICT) which would allow consumers to benchmark across different markets where the lowest prices are available.
They agreed to look into the integration of price monitoring data of the member agencies of the council for price stabilization. With accurate, real-time data, the agencies and consumers will be equipped to make smarter and more informed decisions.
The DTI is assessing restrictive market regulations that may affect the intent of producers to enter the Philippine market and the effectiveness of benchmarking prices of goods with other neighboring ASEAN countries, among others.
The council also proposed the removal of the booklet requirement for the availment of the senior citizens discount during the purchase of basic goods. In addition, NPCC Chair Pascual highlighted the need to closely coordinate with the Bureau of Internal Revenue (BIR) to clarify provisions on the tax deductibility of the grant of senior citizen discounts.
The NPCC meeting was a crucial gathering of different sectors, all aimed at ensuring fair and reasonable pricing of BNPCs, and enhancing consumer protection. This was an assertion of the DTI’s prime mandate to protect the consumers and ensure fair trade practices.
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