Nov 28, 2020

DTI clarifies “suggested retail price”

In a press statement, the agency stated that SRP serves as a guide to manufacturers, retailers, traders, sellers, and consumers for the protection of buyers and to ensure that there are justifiable prices of goods.

File photo

The Department of Trade and Industry (DTI) provincial office has clarified that the suggested retail price (SRP) is not a price control measure that removes legitimate businessmen to earn a reasonable profit.

In a press statement, the agency stated that SRP serves as a guide to manufacturers, retailers, traders, sellers, and consumers for the protection of buyers and to ensure that there are justifiable prices of goods.

It added that the basis of SRP is the economic situation where the foreign exchange rate, taxes, law of supply and demand, and other geopolitical issues such as calamity, war, and peace and order situation affects and varies with its changes in the market.

“Basehan din ng SRP ang mga ‘indirect costs’ tulad ng transportasyon, presyo ng langis, halaga ng kuryente, sahod ng mangagawa, gastusin ng kumpanya sa pagpapatakbo ng negosyo at iba pang mga dahilan na maaaring maka-impluwensya sa presyo ng bilihin,” it stated.

The agency also conducts monitoring with the prices of goods in the market to ensure that traders, distributors and large supermarkets are not making opportunities to fool buyers and consumers with unjust prices.

DTI Palawan has been monitoring tourist towns such as El Nido where prices of goods were recorded way above the SRP during the months of May and June 2019. During the last two months of 2019 second quarter, DTI Palawan noticed a 15 percent average mark-up on the prices of goods which is more than the SRP.

The agency also stated that the e-Presyo program also serves as a method for buyers to compare prices of products in different stores.

“Malaking tulong din sa mamimili ang e-Presyo, online price monitoring ng DTI. Makikita sa e-Presyo at ang umiiral sa presyo sa iba’t ibang tindahan o pamilihan,” as noted.

 

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