DTI mulls issuing SRP bulletins only during calamities

The government is studying the possibility of removing the old system of issuing regular Suggested Retail Price (SRP) bulletins, according to a Department of Trade and Industry (DTI) official.

"Ini-explore natin kung we will retain the current practice na regular tayong naglalabas ng SRP or gagawin nating tuwing may kalamidad na lang, kapag nagpa-price freeze, in which case wala na 'yung bulletin natin ang we will let the market decide, parang free market na 'yung style natin," said DTI Assistant Secretary Amanda Nograles in Bernadette Reyes' report on Unang Balita on Thursday.

(We're exploring the possibility of retaining the current practice of regularly issuing SRP or doing only in time of calamities when there is price freeze, in which case there will be no bulletin and we will let the market decide, just like a free-market style.) 

The Unang Balita report said this was discussed during Wednesday's meeting of the National Price Coordinating Council.

An association of supermarket and grocery operators has expressed support to this proposal.

"Competition keeps us in check. Don't buy those items na masyadong mataas ang itinaas. Ang daming brands. Pag lahat sila nagtaas, may papasok na bagong players," said Steven Cua of the Philippine Amalgamated Supermarkets Association Inc. in the same report. —KBK, GMA Integrated News