DTI 7 issues notice of violation to 11 retailers in Central Visayas

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THE Department of Trade and Industry (DTI) 7 has issued the Notice of Violation (NOV) and Letter of Inquiry (LOI) to erring establishments in the region.

As of January 10, 2022, the DTI has issued 76 LOIs and 11 NOVs in Central Visayas to non-compliant establishments of the Price Freeze Order and to retailers of hardware and construction materials in violation of Fair Trade Laws.

In Cebu, there were eight LOIs issued while two NOVs were served to erring establishments. In Bohol, around 68 LOIs or show cause orders and nine NOVs were issued to non-compliant supermarkets and stores.

Republic Act 7581 or the Price Act ensures that the prices of basic necessities and prime commodities are at reasonable levels.

Republic Act 71 or the Price Tag Law, on the other hand, requires that all consumer products sold in retail to the public shall have appropriate price tag, label, or marking indicating their prices and shall not be sold at a higher price than that stated on the price tag.

Both laws protect consumers from illegal acts of price manipulation, such as hoarding, profiteering and cartel.

Erring retailers may be penalized for violation of price ceilings with a fine of P5,000 to P1 million.

For acts of illegal price manipulation (profiteering, hoarding and cartel), erring retailers may be penalized with a fine of P5,000 to P2 million.

The DTI 7 said it continues to appeal to the public to be vigilant and report retailers’ unconscionable acts. (KOC WITH PR)

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