Department of Trade and Industry (DTI) Asec. Ann Cabochan admitted on Friday, Nov. 4, that the government lacks the authority to regulate the prices of Noche Buena items.
Cabochan explained that manufacturers of Noche Buena items can impose a price adjustment without getting approval from the DTI
"Hindi siya something na regulated product. Hindi siya katulad nung mga produkto na nakalista doon sa aming SRP, Suggested Retail Price bulletin," Cabochan said during DZRH's Dos Por Dos.
However, Cabochan assured that the DTI coordinates with manufacturers to 'temper' any price increase on Noche Buena items.
"Ang inaasahan lang natin diyan is competition. Kung may competition naman diyan at alam naman ng manufacturers na limited naman din yung ating purchasing power, kung masyado silang mataas, yung market share nila ay hindi lalaki," Cabochan said.
"Nakikipag-ugnayan kami and we are hoping, because very unusual din naman yung circumstances at this time, that if indeed there are increases that they are not also too much," she added.
