Cebu LGUs Urged to Revive Price Councils Amid Middle East Tensions
The commitment from at least 25 local government units (LGUs) in Cebu Province to revive their Local Price Coordinating Councils (LPCCs) is a necessary step, especially during this period of ongoing Middle East tensions. However, why have only half of the 50 LGUs in the province pledged to do so, when this measure is essential even without a crisis?
Legal Mandate and Current Inactivity
There is a national law concerning this issue, known as the Price Act or Republic Act 7581, which is designed to protect consumers from abuse by businesses. Without an active LPCC in every LGU nationwide, this law becomes ineffective. If America and Israel had not attacked Iran, it might not have been revealed that currently, only 10 LGUs in Cebu have active LPCCs, according to the Department of Trade and Industry (DTI).
DTI-Cebu Provincial Director Marivic Aguilar explained that many LPCCs are inactive because there is no market disturbance or turmoil to worry about. However, this is not a sufficient reason to keep LPCCs dormant. At any time and under any market situation, it is crucial for an LGU's LPCC to be active.
National Agencies and Local Responsibilities
National agencies like the Department of Energy have frankly admitted that they lack the personnel to monitor market prices comprehensively. Consequently, the heavy responsibility for enforcement now falls on the shoulders of local government leaders.
Nevertheless, it may not be too late for all LGUs to take action by conducting regular market price inspections. This would enable them to penalize abusive businesses that fail to comply with the Suggested Retail Price (SRP).
Market Stability and Potential Exploitation
Although DTI consumer protection chief Airene Abapo has assured the public that market supply remains strong with a three-month buffer stock, it is unavoidable that some businesses might take advantage of the current situation. They could arbitrarily raise prices on their goods.
If the expected increase in gasoline and crude oil prices continues, it is no surprise that market turmoil will intensify in the coming days.
Urgent Call to Action
Therefore, it is absolutely necessary for every LGU, especially during this time of persistent Middle East tensions, to make their LPCCs active. This will protect consumers from exploitative businesses and ensure market fairness.
