No rollback in SRP of basic goods

MANILA, Philippines - There will be no rollback in the suggested retail prices (SRP) of basic goods for the meantime despite the continued decline in the cost of fuel products.

Manufacturers and trucking services have asked the Department of Trade and Industry (DTI) for a recomputation in its projected price reduction for some commodities.

“They asked for more time. We think there is a need for a series of meetings in the next few weeks to clarify the figures. And there are other issues coming out on the supply chain. Concern on traffic is one. We have to look at the supply chain and logistics. We cannot resolve those issues in one meeting so we decided to continue,” Trade Secretary Adrian Cristobal Jr. explained.

He also said manufacturers and truckers raised several concerns apart from fuel costs affecting the production and distribution of basic goods during the first National Price Coordinating Council meeting last Friday.