Department of Trade and Industry assures minimal price effects of tax reform

• Department of Trade and Industry assures minimal price effects of tax reform
• As for the effects of TRAIN on transportation fare, Lopez estimated the effect should not be more than 8 percent.

Department of Trade and Industry (DTI) Secretary Ramon Lopez assured the public that the tax reform’s effects on prices were minimal.

“(W)alang dahilan para mangamba dahil napakaliit lamang ng apekto nito sa… lalo na sa presyo, na sinasabing tataasan daw lahat ng presyo,” the DTI chief assured.

There is also market competition, where consumers have a choice with regard to sellers or vendors, which will ensure price stability, Lopez added.

“So takot din silang magtaasan ng presyo. Kung ikaw ay isang tindahan at katabi ng maraming tindahan, takot ka ring magtaas ng presyo. So iyon din ang ating market force correcting mechanism,” Lopez said.

As for the effects of TRAIN on transportation fare, Lopez estimated the effect should not be more than 8 percent.

“Sa sampung pisong minimum na pamasahe or eight pesos—sampung piso na lang para madaling i-multiply—sampung piso na pamasahe, wala pang 80 centavos, in effect, iyong increase,” he clarified.

Lopez, likewise, urged the public to report to the DTI’s Consumer Protection Advocacy Division, with telephone numbers 751-3233 or 751-0384, any unscrupulous firms engaged in unfair trade practices or using the TRAIN for profiteering activities.

Those who will take advantage and charge excessive prices will be penalized with fines ranging from P20,000 to P1-million pesos, Lopez warned.

Meanwhile, the DTI will intensify information campaign on the implementation of the TRAIN law to fairly apprise the public of its effects and benefits.

“Ang ating departamento, actually nag-uusap-usap nga kami noong mga nakaraang linggo hanggang kahapon na we will be doing a message house para iyong communication ay mapaigting pa. Sa dami rin kasi ng nagtatanong which means talagang maraming gustong makaintindi, makaalam at para maikalat natin na huwag silang mangamba,” the DTI chief said.