MANILA (Mindanao Examiner / Dec. 2, 2012) – San Juan Congressman JV Ejercito Estrada has warned manufacturers and traders against profiteering during the Christmas holidays, saying there is an appropriate penalty for the crime.
He also urged the Department of Trade and Industry to keep a tight watch on the prices of food items usually associated with Christmas, in addition to basic commodities. He said the government must be prepared to strictly enforce RA 7581, otherwise known as the Price Act, this time of the year.
“It is only on Christmas and New Year that even poor families splurge on ham, cheese, spaghetti, fruit cocktails, and other goodies for noche buena and media noche,” he said, adding “these are Filipino traditions that manufacturers and traders, especially in the spirit of sharing and gift-giving, should not take advantage of.”
Under the law, price manipulation carries a penalty of imprisonment from five to 15 years and a fine ranging from P5,000 to P2 million.
The lawmaker appealed to businessmen to keep the prices of clothing and shoes stable, which he said families usually buy for their children as gifts. He said enough profit can be made anyway because of the increase in the movement of these goods.
“I know the government does not impose a price ceiling on these items, but retail outlets should not take the occasion to gouge customers. It is the season of giving, but all we ask is for them to moderate the urge to make profit,” he said in a statement.
He also noted that remittances from overseas Filipino workers usually pick up in anticipation of the holidays. He said there is a tendency for some unscrupulous traders to maximize profit during this period, to the prejudice of people.
“This is unconscionable considering that the median disposable income in the country is only about P12,500 a month. Only in the months mentioned do families get their hands on extra money,” he said.
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