Sen. Francis Pangilinan —Photo from Senate of the Philippines/Facebook
MANILA, Philippines — Sen. Francis “Kiko” Pangilinan on Monday urged the government to intensify its crackdown on hoarders, profiteers and cartels as the country braces for the impact of a strong El Niño, such as drought and water shortage, on food production and prices.
“[Authorities should] gather evidence and pursue criminal and administrative cases against those responsible for illegal price manipulation. Enforcement must not end with frontline sellers. We must target the very top, the big business owners behind these syndicates,” said Pangilinan, who chairs the Senate committee on agriculture, food and agrarian reform.
At the same time, he called on the Department of Trade and Industry, the Department of Agriculture (DA), the Price Coordinating Council and other agencies to strengthen market monitoring and enforce a price freeze in areas under a state of calamity.
He also urged them to recommend the imposition of price ceilings if warranted under the law to protect consumers from unreasonable increases.
“We should not profit from the impending calamity that will further afflict our countrymen, especially farmers and fishermen who also buy food from the market. During times of crisis, consumers must be protected against exploitation,” Pangilinan said in a statement.
Under Republic Act (RA) No. 7581 or the Price Act, illegal price manipulation is punishable by imprisonment of five to 15 years plus a fine ranging from P5,000 to P2 million.
Violators of automatic price freezes or mandated price ceilings face from one to 10 years in prison, a fine of P5,000 up to P1 million, or both, depending on the court’s discretion.
Pangilinan also warned that public officials who conspire in or knowingly conceal violations of RA 7581 may be held accountable.
The DA earlier reported that as of Oct. 21, damage to crops, livestock and poultry due to the ongoing El Niño phenomenon—which is expected to hit a very strong state by year-end and persist until early next year—had hit P8.57 billion.