The Department of Trade and Industry in Negros Occidental is considering price ceilings on construction materials to prevent traders from profiteering, its Provincial Director Rebecca Rascson, said yesterday.

Rascon said they received reports that the prices of construction materials increased after super typhoon Yolanda hit the country.

They will check the hardware stores in Negros Occidental to see if there has been a drastic increase in the prices of construction supplies.

If there is any, DTI will recommend a price ceiling on such construction materials to the local price coordinating council, headed by Gov. Alfredo Marañon Jr., she said.

Under the Price Act of the Philippines, any person who commits any act of illegal price manipulation of any basic necessity or prime commodity will suffer the penalty of imprisonment for a period of not less than five years, nor more than  15 years, and shall be imposed a fine of not less than P5,000 or more than P2,000,000.

Meanwhile, the prize freeze on basic goods in Negros Occidental will stay for 15 days while the province is still under a state of calamity.

Rascon said, so far, traders have complied with the prize freeze being implemented by DTI.

She said there is no need for panic-buying, in fact, two non-government organizations will purchase the sardines they will send to Northern Iloilo and Capiz from Negros Occidental, because there is enough supply in the province.*APN

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