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DTI cuts bureaucratic red tape on SRP setting
MAKATI—Department of Trade and Industry (DTI) Secretary Ramon Lopez recently (5 April) convened the National Price Coordinating Council (NPCC) to closely evaluate the price and supply situation of basic necessities and prime commodities during the first quarter of this year. During the meeting, DTI discussed its stand to deregulate the setting of Suggested Retail Prices (SRP) on certain commodities to reduce bureaucratic red tape in the system, while it continues to closely monitor the movement of prices of products and ensure fair trade in the market. DTI clarified that there will still be SRPs on manufactured products but it can be set by the companies themselves for guidance of the supermarkets and consumers. These SRPs will still be closely monitored by DTI. “We can let the companies set the SRPs because products with competitive market players and several brands, both locally produced and imported, have their ‘self-correcting mechanism’ on their prices,” said Sec. Lopez. “In fact, prices of brands and commodities that do not pass the approval system of DTI before remained stable and some are even declining because of competition” he added. Sec. Lopez believes that liberalizing price setting would help spur competition among industries and would further improve their product quality. “DTI would prioritize the protection of the consumers by ensuring that industries have a competitive business environment that allows entry of brands and players in the market and give the consumers the widest range of choice,” the trade chief said. “We will continue to closely monitor the prices of basic goods, and will have the oversight function to enforce regulation of irregular price increases,” added Sec.... read moreWORLD’S LARGEST HALAL EVENT TO SHOWCASE PH PRODUCTS
The Philippines, through the Department of Trade and Industry’s Export Marketing Bureau (EMB) and Philippine Trade and Investment Center (PTIC) – Kuala Lumpur, is set to take part at the Malaysia International Halal Showcase (MIHAS) 2017 on 5-8 April in Kuala Lumpur, Malaysia. After years of absence at MIHAS, the Philippines is back with 30 Philippine companies that will showcase Halal-certified products at the Philippine Pavilion. Joining the business delegation are companies from the food (27) and non-food (3) sectors. Products to be showcased will vary from food and beverage, processed meats and snacks, to cosmetics and personal care. With its Philippine Export Industry development program, Philippines’ participation at the said trade show is the biggest to date. “The Philippines takes this opportunity to introduce itself as a major supplier of Halal compliant products to the world. We are here to take part in the global Halal initiative and to bring about innovative products that will complement the global Halal ecosystem. The Philippines brings together the strong collaboration of Halal stakeholders in the Philippines with the deliberate approach under the recently passed Philippine Halal Export Promotion and Development Law (Republic Act 10817),” said DTI EMB Director Senen M. Perlada. DTI-EMB confirmed the participation of San Miguel Purefoods Company, Inc., Mega Global, Century Pacific Food Inc., and Palmstore, among others. The PTIC – Kuala Lumpur has also expressed confidence in the success of the Philippine’s participation, especially with the keen interest shown by businessmen in Malaysia to visit the Philippine Pavilion and meet the companies. “We have gained recognition in the industry with businesses and business... read more