The Department of Trade and Industry (DTI) said it issued 69 show cause orders to sellers of building materials who violated price freeze orders in provinces affected by Typhoon Odette (international name: Rai).
The DTI said in a statement on Sunday that it had also confiscated overpriced supplies from hard-hit areas like Surigao del Norte.
Items covered by DTI’s price control include consumer goods, generators, building materials, and petroleum products.
Commerce Secretary Ramon M. Lopez warned the alleged profiteers: “Our regional DTI teams and the Consumer Protection Group, together with the Philippine National Police-Criminal Investigation and Detection Group (PNP -CIDG), have been relentless in this campaign to catch … the hoarders. which benefit our compatriots who are already suffering from the damage caused by Typhoon Odette.
DTI said it recently started distributing livelihood kits to microentrepreneurs affected by Typhoon Odette.
The first beneficiaries were 1,036 beneficiaries, including micro, small and medium enterprises (MSMEs) from Siargao, Dinagat Islands, Surigao del Norte, Bohol, Cebu, Southern Leyte, Negros Occidental, Negros Oriental, Guimaras and Iloilo.
“With an initial fund of 8 million pesos readily available for distribution, the program immediately responded to the president’s call to bring government services to typhoon victims as soon as possible,” DTI said.
“This is part of the estimated 150 million peso fund to bring livelihood kits to about 2,000 beneficiaries per province affected by the typhoon, with about 8,000 to 10,000 pesos per beneficiary, or about 20 million pesos per province.” , he added.
Lopez also announced earlier that DTI’s financing arm, Small Business Corp., will also provide 500 million pesos for loans to MSMEs.
“The fund will be offered at no interest, no collateral requirement, and with a grace period that will not require immediate payment of principal to enable affected MSMEs to recover from damage caused by Typhoon Odette,” DTI said. – Revin Mikhael D. Ochave