The ECCP sees a need to amend the Price Act, as the current “procedures” in the DTI “curtail” business prerogatives to make decisions according to the needs of businesses, especially amid the current global trend of rising production costs. Know more:
THE European Chamber of Commerce of the Philippines sees a need to amend the Price Act, as the current “procedures” in the Department of Trade and Industry “curtail” business prerogatives to make decisions according to the needs of businesses, especially amid the current global trend of rising production costs.
With this, the ECCP is re-submitting its recommendations as detailed in the previous position paper it provided to Congress in May 2021. “Expanding the list to include non-essential goods will unintendedly impose artificial price caps on a host of other categories of products considering the current cumbersome regulations for seeking approvals to make price adjustment on all products in the BNPC list,” the ECCP Advocacy Paper read.
Further, the ECCP said it looks forward having a “simpler and more practical” process for the industry and other stakeholders to have a say on the inclusion or exclusion of types and brands of goods in the basic necessities and prime commodities list, with businesses being allowed to offer a list of its base products that should be included in the BNPC list.
“We strongly recommend that price ceilings will continue to be imposed only on basic necessities without fixing price ceilings on prime commodities,” ECCP noted.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Comelec junks DQ petition vs. Tulfo as ACT-CIS nomineeThe Commission on Elections on Thursday dismissed a disqualification case against former Social Welfare Secretary Erwin Tulfo as nominee of the ACT-CIS party-list.
Read more »
2023 ASUS Zenbook OLED Series: Specs, features, price in the PhilippinesASUS launches three new laptops from their ultraportable Zenbook series.
Read more »
Comelec junks DQ case that barred Erwin Tulfo from sitting as congressmanThe Comelec says it no longer has jurisdiction over the case filed against Erwin Tulfo because ACT-CIS was already proclaimed party-list race winner in May 2022.
Read more »
Germany falls into recession as consumers in Europe’s biggest economy spend lessGermany has slipped into recession as last year’s energy price shock takes its toll on consumer spending.
Read more »
Comelec division junks DQ case vs. Erwin TulfoThe Commission on Elections (Comelec) Second Division on Thursday junked the disqualification petition against Erwin Tulfo, who is eyeing to become a nominee of ACT-CIS Partylist in the House of Representatives.
Read more »
Agri Dept. shelves SRP for onionsThe Department of Agriculture has indefinitely suspended the proposed suggested retail price for onions after Agriculture Senior Undersecretary Domingo Panganiban
Read more »