TRADE Secretary Cristina Roque said there are no price increases this coming Undas period for basic goods being monitored by the Department of Trade and Industry (DTI).
At the sidelines of the SGV Tax Symposium, Roque said prices have been stable for many products, including candles, bottled water, and other goods.
“Wala tayo naging problema. Continuous pa rin ang pag-check ng DTI regarding mga kailangan sa Undas. Everything is okay naman. So far… also no price increase for basic necessities and prime commodities,” she said.
Roque said she continuously does site monitoring in various manufacturing plants to check prices and said many factories still have huge inventories; hence, there was no need to hike prices. Last week, she visited a bottled water company, and next she will inspect a canned sardines plant.
“They have inventories. We coordinate with the manufacturers and also the retailers. For now, there is no price increase for basic necessities and prime commodities,” Roque added.
Basic necessities and prime commodities include some canned goods, milk, 3-in-1 coffee, bread, laundry soap, school supplies, cooking gas, some construction materials, candles, among many others.
Roque said there are no requests for price hikes yet from manufacturers. There is also no indication yet of price increases due to El Niño.
Meanwhile, Roque, at the SGV Tax Symposium, highlighted the need to help small businesses comply with tax policies because this will help the whole economy.
She told SGV auditors and staff: “Your expert guidance helps businesses navigate complex regulations, make sound financial discussion, and comply with absolute confidence to serve a vital role in guiding taxpayers.”
SGV Chairman and Country Managing Partner Rossana Fajardo also noted the importance of tax reforms to help businesses thrive in the growing ASEAN region.
“Tax reform plays a vital role in supporting a more integrated and competitive ASEAN economy by pursuing a tax system that is efficient, transparent, and responsive to the evolving needs of businesses,” Fajardo said. (ABS-CBN News)
