Six manufacturers withdraw request for price increase – DTI

Philippine Tribune
Philippine Tribune

The Department of Trade and Industry (DTI) said six basic necessities and prime commodities (BNPC) manufacturers had withdrawn their request for price increase adjustment, indicating that the prices of goods will still be on hold by year-end. 

“Six manufacturers withdrew their earlier request for price increase and it had influenced other [manufacturers], and there was a consensus that they will hold off [prices] for the meantime until the end of the year,” DTI Secretary Alfredo E. Pascual said during a press conference on Oct. 4.

DTI Assistant Secretary Mary Jean Pacheco, who was present at the conference, noted that these were manufacturers of “bottled water, candles, condiments, bread, and toilet soap.”

Pacheco also said that the DTI will meet with the canned sardines manufacturers on Oct. 5 “to continue to appeal that there will be no SRP (suggested retail price) adjustments until the end of the year.

Meanwhile, Pascual also commended the manufacturers for their diligent collaboration in helping to relieve the burden of rising product costs for Filipino consumers.

“We assure them that the DTI will continue to work with them in finding ways to address the rising costs of their production so that they too can sustain their businesses, which in turn provides income to their workers,” he added.

Further, Pascual explained that the recently signed Executive Order No. 41 will significantly reduce transport logistics costs, which was among the concerns of some manufacturers in their initial request for an increase in the SRP for BNPC.

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