MANILA, Philippines — Some manufacturers are implementing a voluntary price freez e until July to help address the impact of El Niño on prices of goods, according to the Department of Trade and Industry (DTI).
In a statement yesterday, the DTI said several manufacturers have decided to voluntarily implement a price freeze on select stock keeping units of bottled water, canned meat and process ed milk until July 10.
Those included in the voluntary price freeze are Wilkins Distilled Bottled Water, Viva Mineral ized Bottled Water, CDO Luncheon Meat, CDO Meat Loaf, Bingo Corned Beef, Bingo Beef Loaf, CDO Beef Loaf, 555 Meat Loaf, Argentina Meat Loaf, Argentina Corned Beef, Argentina Beef Loaf, 555 Beef Loaf and Birch Tree Full Cream Milk.
The voluntary price freeze is being implemented following the meeting of Trade Secretary Alfredo Pascual with manufacturers of basic necessities and prime commodities last May 3, to discuss how to address the risk of increasi ng prices due to El Niño.
Pascual commended Century Pacific Food Inc., CDO Foodsphere Inc. and Coca-Cola Beverages Philippines Inc. for the move showing their commitment to help ensure access to affordable basic goods.
“The Department expects t o receive more advisories from other manufacturers of similar nature,” the DTI said.
Earlier, the DTI said several manufacturers and retailers have expressed openness to implementing a voluntary price freeze.
Under the Price Act, prices of basic goods are automatically frozen at prevailing prices up to 60 days in an area declared to be under a state of calamity.
During the recent meeting with manufacturers and retailers, Pascual emphasized the DTI’s commitment to combat profiteering, hoarding and cartels by stepping up its monitoring across the supply chain and implementation of the “farm-to-fork” strategy.
The “farm-to-fork” strategy involves the partnership with the Department of Agriculture and Clark International Airport Corp. for establishing the Clark Mega Food Hub and the Nueva Vizcaya Agricultural Terminal in collaboration with the United States Agency for International Development-Strengthening Private Enterprises for the Digital Economy.
To further streamline the supply chain and potentially bring down costs, Pascual also proposed establishing a direct link between farmers and retailers.
Sen. Francis Tolentino’s urgent call to the DTI for price control in the face of a severe dry spell has been approved, as confirmed on Friday by DTI Assistant Secretary Amanda Marie Nograles.
“With the positive response of the DTI to our suggestion to impose price control because of El Niño, the prices of certain commodities will be controlled even without the government declaration of a state of calamity,” Tolentino said.
Nograles informed Tolentino that the DTI immediately called for a meeting to look into price control by freezing the prices of some commodities and invited manufacturers to get their response.
“We discussed the possibility of some sort of voluntary price freeze of manufacturers as one form of bayanihan because we are experiencing El Niño and inflation,” she said.
Nograles thanked Tolentino for suggesting a price freeze on some commodities because the consumers are feeling the brunt of the El Niño phenomenon, while the government has not declared a state of calamity.
The DTI executive said they expect to announce the full list next week.
MANILA, Philippines — Breaking his silence, President Marcos yesterday branded former Philippine Drug Enforcement Agency (PDEA) agent Jonathan Morales, who linked him to illegal drugs, as a “professional liar” and likened him to a jukebox that would play any song for a fee.
Marcos questioned Morales’ credibility, noting that the person had many court cases, including false testimonies, and complaints for implicating innocent people.
“It’s hard to give importance to that. This fellow is a professional liar. He’s like a jukebox. As long as you drop money, whatever song you want, he will sing. So there is no point (in paying attention to this),” the President told reporters in General Santos City.
At a recent Senate hearing, Morales claimed an alleged classified document of PDEA, which links Marcos and actress Maricel Soriano to illegal drug use, was authentic. The supposed leaked documents were making the rounds on social media.
“Just look at his record. Just look at his – he has a false testimony case… He has a history of accusing people of anything,” the President said.
“I guess that’s what he does for a living. That’s why I call him a professional liar,” he said.
Marcos was asked by the media to react to the 2012 documents allegedly linking him and Soriano to narcotics use on the sidelines of the Government-Owned or Controlled Corporations Day in Pasay on May 6. The President just laughed off the claim then.
Executive Secretary Lucas Bersamin, who was with the President at the event in Pasay City, told reporters that the accusation against the President was “contrived.”
PDEA said the document referred to by Morales does not exist.
MANILA, Philippines — Pump prices for fuel products could decline again next week, as oil prices in the Asian market fell amid favorable global political and economic conditions, according to the Department of Energy (DOE).
Rodela Romero, DOE-Oil Industry Management Bureau assistant director, said pump prices for gasoline, diesel and kerosene are expected to continue their downward trend next week.
Prices may go down by P2.00 to P2.25 per liter for gasoline, P0.50 to P0.85 for diesel and P0.90 to P1 for kerosene, according to the DOE’s estimates based on the recent four-day trading.
If the forecast materializes, it would be the third consecutive week that gasoline prices decrease, while it would be the fourth straight week of rollback for both diesel and kerosene.
Romero attributed the pump price rollback to easing oil prices in Asian trade due to “sustained” increase in US inventories and strengthening of the US dollar.
Citing reports, she added that the new ceasefire proposal for Gaza also contributed to lower global oil prices.
The final oil price adjustment will be announced on Monday and will take effect the next day.
Last week, oil companies slashed their prices on a per liter basis by P0.75 for gasoline, P0.90 for diesel and P1.05 for kerosene.
The year-to-date adjustments of gasoline and diesel stood at a per liter net increase of P9.25 and P4.70 respectively as of May 7, based on DOE monitoring.
Meanwhile, kerosene posted a net decrease of P0.80 per liter.
MANILA, Philippines — The 51-year-old Sofitel Philippine Plaza Manila in Pasay City will close its doors starting July 1.
“We will cease hotel operations on July 1, 2024, so our last day of business will be on June 30,” Esteban Peña Sy, president of the luxury hotel’s owner Philippine Plaza Holdings Inc. told The STAR by phone yesterday.
According to a statement allegedly from the hotel management that made the rounds on social media, the closure of the luxury hotel was “part of our ongoing commitment to providing our guests and colleagues with the best possible experience.”
Sy pointed out five-star Sofitel would close its doors to guests due to safety issues, possibly wear and tear of essential equipment like water pipes and electrical wires.
He recalled firefighting personnel of Pasay City had to respond to “27 fire incidents” in the hotel so far this year, and praised the hotel employees and firefighters for quickly suppressing them.
“In September 2023, we had to evacuate all our over 1,000 hotel guests because our water pipes busted,” he added.
International consultants and the Department of Labor and Employment also came up with reports that declared the integrity of the hotel, as well as working conditions, was no longer safe, according to Sy.
Shutting down Sofitel would “avoid any casualty,” he emphasized.
He also assured the hotel’s hundreds of employees, including its labor union, that they would be given “very good” separation packages, which he even called “better.”
They would also undergo seminars and training, with the hope that Accor – a multinational hospitality firm serving as the hotel’s manager – would absorb and send them to its other properties, he added.
Sy pointed out Sofitel’s upcoming closure has nothing to do with the ongoing reclamation projects in Manila Bay – which reportedly blocked its view of the famous Manila Bay sunset – as well as the lease agreements with the hotel’s land owner, Government Service Insurance System, contrary to earlier reports.
“The shutdown has nothing to do with GSIS. Our landlord and tenant relationship is very cordial,” he said.
On the issue of Manila Bay reclamation, he said, “Luckily we are not totally affected. Our guests are still waiting in the Sofitel garden for the sunset.”
He also said he was thankful the government – citing a previous declaration from President Marcos to stop all reclamation projects in Manila Bay – did not allow reclamation 500 meters from the hotel’s seawall.
Sy asserted before the announcement of Sofitel’s closure, “business was so good recently that in the last quarter we had 80 percent occupancy and the restaurant was always full.”
Asked if the closure of the hotel would be temporary or permanent, Sy said “the future of the hotel is uncertain.”
Accor described Sofitel as a “an iconic 5-star luxury resort nestled in a tropical setting close to the largest convention center, theaters, museums, government offices and the Mall of Asia.”
“Our 5-star accommodation includes 607 rooms and suites with balconies showcasing spectacular views of Manila Bay sunsets,” it added.
Built in 1973 and opened “without interruption” in 1976, or during the martial law era, the hotel “had a long legacy as the hotel of choice for almost five decades for heads of state, celebrities and global corporations alike, and it has been home to celebrations and milestones of our beloved patrons and clients,” according to Sofitel’s statement shared on social media.