Makati City: Department of Trade and Industry (DTI) Secretary Alfredo Pascual announced plans for a study assessing the impact of suggested retail prices (SRPs) on competition in the Philippine consumer products market. The study, revealed at a press conference, will focus on basic necessities and prime commodities (BNPCs) governed by the Price Act.
According to Philippines News Agency, the goal is to determine the extent of market competition and whether SRPs under the Price Act require revision. The DTI, under the Price Act, regulates SRPs on BNPCs to prevent retailers from exceeding recommended prices. The National Price Coordinating Council, comprising public and private sectors, coordinates these SRPs. Pascual expressed initial reluctance about government involvement in setting SRPs, advocating for market competition in collaboration with the Philippine Competition Commission. He also noted potential negative effects of SRPs, such as limiting lower pricing options for retailers. The study will also consider manufacturers' practices in setting prices without consultation, as observed in the Noche Buena price guide.