Traders who sell their products slightly higher than the Suggested Retail Price or SRP will not be fined yet.
However the DTI Undersecretary for Consumer Protection Teodoro Pascual said that traders who have 40 to 50 percent higher price than the SRP will be required for penalty for such violation.
Aside from the fines Pascual warned the violators of improsent if they will infringe anti-profiteering law.
At the same time Pascual appealed to the public to help DTI in monitoring prices and immediately report to the government when there are excessive increases in prices.
Pascual reiterated that there should be no increase in prices of Noche Buena items especially because they have issued SRP for the items.
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