Sen. Francis ‘Kiko’ Pangilinan on Monday urged the government to intensify its crackdown on hoarders, profiteers, and cartels as the country braces for the impact of a strong El Niño on food production and prices.
He also called on the Department of Trade and Industry (DTI), Department of Agriculture (DA), Price Coordinating Council and other concerned agencies to strengthen market monitoring and enforce applicable price freezes in areas declared under a state of calamity.
He said these agencies should recommend the imposition of price ceilings when warranted under the law to protect consumers from unreasonable price increases.
‘We should not profit from the impending calamity that will further afflict our countrymen, especially farmers and fishermen who also buy food from the market. During times of crisis, consumers must be protected against exploitation,’ Pangilinan said.
According to him, authorities should investigate and prosecute individuals and entities engaged in hoarding, profiteering, and cartel activities that seek to exploit the threat of drought and water shortages to manipulate food supply and prices.
‘[They should] gather evidence and pursue criminal and administrative cases against those responsible for illegal price manipulation. Enforcement must not end with frontline sellers. We must target the very top, the big business owners behind these syndicates,’ said Pangilinan, chair of the Senate Committee on Agriculture, Food and Agrarian Reform.
Under Republic Act No. 7581, or the Price Act, as amended by Republic Act No. 10623, the prices of basic necessities in areas declared under a state of calamity are automatically frozen at their prevailing levels or placed under automatic price control, unless otherwise declared by the president.
Pangilinan also warned that public officials who conspire in or knowingly conceal violations of the Price Act may be held accountable.