PRICE MONITORING. Bacolod City Mayor Alfredo Abelardo Benitez (left) visits the Burgos (North) Public Market on Wednesday to check the compliance of rice retailers with Executive Order (EO) 39 issued by President Ferdinand R. Marcos Jr., mandating the price cap for regular milled rice at PHP41 per kilo and for well-milled rice at PHP45 per kilo. On Thursday (Sept. 7), the mayor said PHP45 per kilo of rice is already available in the city’s two major public markets. (Photo courtesy of Albee Benitez Facebook page)
Cesafinews | Rice now costs P45 per kilogram in Bacolod City | BACOLOD CITY – Mayor Alfredo Abelardo Benitez announced on Thursday that a number of local retailers have begun selling rice at PHP45 per kilogram in accordance with the price cap mandated by Executive Order (EO) 39 issued by President Ferdinand R. Marcos Jr.
“While we wait for the Department of Commerce and Industry’s (DTI) implementing rules and regulations (IRR), we toured the markets yesterday (Wednesday). Currently, maize costs PHP45 per kilogram at Burgos and Libertad Markets,” he said in a statement.
Executive Order 39, signed on August 31 by Executive Secretary Lucas Bersamin, caps the price of ordinary milled rice at PHP41 per kilogram and well-milled rice at PHP45 per kilogram.
Pacifico Maghari, city administrator, stated he had sent letters to the DTI and the Department of Agriculture (DA) requesting the IRR and implementation alignment.
“We’re waiting for it before we convene a coordination meeting to discuss specific procedures. In the interim, we are conducting preliminary market surveillance, he said on Thursday.
According to City Attorney Ting, Executive Order 39 gives the city government the authority to inspect and compel rice retailers to comply with the directive.
“It’s from the national government; we have to enforce the law,” he added.
Wednesday, administrators of the city’s three largest public markets briefed rice retailers on Executive Order 39.
EO 39 is regarded as the administration’s most potent weapon to date for protecting consumers from hoarders, rice cartels, and unlawful price manipulation.
The directive mandates a coordinated effort among various agencies to ensure strict implementation of the mandated price ceilings, intensify the fight against hoarding and illegal importation of rice, and take measures against cartels to ensure fair market competition and uphold consumer protection and welfare.
According to Sections 15 and 16 of Republic Act 7581, or the Price Act, offenders are subject to penalties.
The penalties include imprisonment for up to ten years and sanctions between PHP5,000 and PHP1 million. (via PNA)
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