DTI freezes review of price hike petitions for basic goods for now

By Andrea E. San Juan @andreasanjuan

THE review of requested adjustments on prices of basic goods is currently on hold as the Department of Trade and Industry (DTI) is still monitoring the movements of the oil prices and all other inputs to basic goods, according to Trade Secretary Alfredo E. Pascual.

“Well we’ve reached a decision the other week when convened my team to hold muna. That was the decision,” Pascual said at the Kapihan sa Manila Bay forum on Wednesday.

The trade chief stressed that the agency is monitoring the movements of oil prices and all other important inputs to the manufacturing of basic goods. He added, “If we detect that there is a basis, then we will again sit down and decide, which requests for price adjustments