Government Monitors Prices, Aids Small Businesses

According to the PNA, the**Department of Trade and Industry-Ilocos Region (DTI-1)**teams have been deployed for strict and regular price monitoring to protect consumers. This action is in response to potential commodity price increases linked to the ongoing war in the Middle East.

DTI-Region 1 is collaborating with local government units (LGUs) and the Department of Energy (DOE) to gather data. This information may lead to the establishment of standard retail prices or the implementation of a price freeze, similar to past measures. While moderate panic buying has been reported in some provinces, significant price increases are not yet fully impacting consumers.

For micro, small, and medium enterprises (MSMEs) in areas like San Fernando and San Juan, DTI-1 offers programs such as the Pangkabuhayan sa Pagbangon at Ginhawa (PPG) Program. This initiative provides business starter kits valued at PHP10,000 to PHP15,000, along with training. The program aims to assist small business owners affected by crises, including fuel price hikes.

DTI-1 advises small business owners to manage resources efficiently and practice energy conservation to help mitigate the economic impact.

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SOURCE: PNA