The Bacolod City Council has taken decisive action by approving a resolution that calls for a comprehensive crackdown on hoarding and price manipulation of oil products and essential commodities. This measure specifically urges the Department of Energy (DOE) and the Department of Trade and Industry (DTI) to intensify their efforts in coordination with the Philippine National Police (PNP).
Addressing Economic Concerns from Global Conflict
Councilor Wilson Gamboa Jr., who chairs the City Council committee on human rights and authored the resolution, emphasized that this initiative directly addresses growing concerns over the economic repercussions of the ongoing conflict in the Middle East. Gamboa highlighted the urgent need for government agencies to collaborate effectively to prevent exploitation during this period of global instability.
"Government must strike a balance between protecting the interests of the business sector and safeguarding the welfare of consumers at this time of global instability that would affect the supply and pricing of oil and basic goods," Gamboa stated, underscoring the dual responsibility of regulatory bodies.
Strengthening Monitoring and Enforcement
The resolution mandates that the DOE and DTI work closely with the PNP to enhance monitoring and enforcement activities. This coordinated approach aims to identify and penalize individuals or groups who might exploit the geopolitical situation by hoarding petroleum products or artificially inflating prices.
Gamboa pointed to Republic Act (RA) 7581, which governs price control in the Philippines, as the legal framework for these actions. This law authorizes the National Government to stabilize prices of basic necessities and prime commodities during emergencies, disasters, or situations involving unjustified price surges.
Goods Under Price Control Measures
Under RA 7581, several essential items are subject to price control measures to protect consumers. These include:
- Basic necessities: Rice, corn, bread, fish, meat, eggs, milk, vegetables, cooking oil, salt, sugar, laundry soap, and medicines.
- Prime commodities: Fertilizers and petroleum products.
Gamboa stressed that proactive monitoring and strict enforcement are critical to prevent artificial shortages and unjustified price hikes that could severely burden consumers. "There's a need for proactive monitoring and strict enforcement to prevent artificial shortages and unjustified price hikes that could burden consumers," he reiterated.
Urgent Vigilance Required
With global developments rapidly influencing local markets, Gamboa emphasized the urgency of vigilance to shield the public from distorted price increases and shortages. He called for national agencies to take immediate, coordinated action to ensure that traders and suppliers do not take advantage of the Middle East conflict to the detriment of ordinary Filipinos.
This resolution reflects Bacolod City's proactive stance in mitigating the economic impact of international conflicts on local communities, advocating for robust consumer protection measures during times of uncertainty.
