MANILA, Philippines — The Philippine National Police will help the Department of Trade and Industry montior implementation of a price frees on basic commodities in Abra, which has declared a state of calamity due to damage caused by an earthquake last week.
Declaration of a state of calamity allows local governments to access disaster relief funds and also imposes a price freeze to keep prices stable while the area recovers.
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"The PNP is tasked to aid in the enforcement of the mandate within the jurisdiction of the LGU concerned. We also take part in monitoring market activities against hoarding, profiteering, price manipulation and unfair trade practices," Police Lt. Gen. Vicente Danao Jr., officer-in-charge of the police until the appointed chief takes office, said.
Panic buying and hoarding are common during crises and these also tend to drive prices up.
Danao said the police will work with the DTI and the local government to verify reports of violations of the Philippine Price Act, which mandates the price freeze in calamity areas.
Violations carry a fine of from P5,000 to P1 million and possible imprisonment for from one to ten years.
"This is high time to show unity and compassion, instead of taking advantage of the situation resulting to committing criminal acts. We encourage our 'kababayans' to immediately report to us cases of hoarding, massive price increase and other forms of blatant profiteering. We will act on it immediately in coordination with DTI," Danao added.