President Rodrigo Duterte on Monday night warned hoarders of arrest if they attempt to take advantage of the devastation brought about by Typhoon Odette.
"Tell us, if there has been violations during this time because we can identify them and the Philippine National Police, we will ask them to arrest the hoarders and people who are taking advantage of the situation," Duterte said in a public briefing.
"We have to put a stop on this and probably we can go ahead and cap the prices of the goods available, especially medicine," he added.
The president made the remarks following his observation that there has been a "spike in prices" despite a recent order that was supposed to control them in typhoon-hit areas.
According to Department of Trade and Industry Secretary Ramon Lopez, the agency has already called out several businesses that are trying to raise costs despite the price freeze order.
This includes 50 businesses in Bohol that were asked to explain their price hikes and two establishments in Cebu were given letters of inquiry (LOIs).
LOIs were also given to eight establishments in Misamis Oriental, while seven were issued show-cause orders.
Lopez said, however, that the business who have been apprehended had already made the necessary corrections in the prices of goods.
