The Department of Trade and Industry is strictly monitoring compliance of business establishments in Palawan to the Price Tag Law to ensure that no one is overpricing and the suggested retail price is duly complied with.
The Price Tag Law, as embodied in R.A. 7394, requires that all consumer products sold in retail to the public shall bear an appropriate price tag, label or marking indicating the price of the article. Such consumer products shall not be sold at a price higher than that stated therein.
According to DTI Provincial Director Rosenda Fortunado, all business establishments are required to post or display the price tag of items on sale.
Fortunado said that last year (2015), 14 business estbalishments were caught violating the Price Tag Law.
DTI observed that there is an increase in the number of business establishments who are aware about the law which means that the campaign is effective in the province.
A penalty of P3,000 shall be imposed by DTI to violators and possible business closure when the practice continues.