30 retailers caught violating price freeze in Bohol
MANILA – Some 30 retailers were given notices after violating the price freeze in quake-hit Bohol, the Department of Trade and Industry (DTI) said.
Victorio Dimagiba, officer-in-charge of DTI's Consumer Welfare and Business Regulation Group, said the 30 retailers were given 48 hours to explain why they should not be sanctioned for violating the price freeze.
A price freeze is currently in effect in Bohol after the province was placed under state of calamity.
Under Republic Act 7581 (The Price Act), price manipulators "shall suffer the penalty of imprisonment for a period of not less than 5 years nor more than 15 years, and shall be imposed a fine of not less than P5,000 nor more than P2,000,000."
Meanwhile, the DTI is set to bring its "Diskwento Caravan" to the quake hit ares of Bohol and Cebu this week. – report from Dennis Datu, dzMM