00:00The Agriculture Department is warning that they will punish the negotiators who do not comply with the Price Act.
00:08This is what Clayzel Pardil has to say.
00:12The Department of Agriculture is warning Secretary Francisco T. Laurel Jr.
00:18that the Price Act can be implemented that punishes those who manipulate the price.
00:23In front of this, the price of rice remains high in the markets
00:28despite the Executive Order that reduces the price of imported rice.
00:33It is also possible for the DA to recommend to President Ferdinand R. Marcos Jr.
00:38to lower the price ceiling if the price of the product is proven to be high.
00:43Based on the price monitoring of the DA,
00:46the price of rice in the markets ranges from P41 to P63.
00:51However, the price should only go up to P45
00:55if what some importers say is true that they are lowering the price to P38 per kilo of rice.
01:02In a consultation with the importers,
01:05Rice Retailers were accused of selling rice at a high price.
01:10Because of this, Secretary T. Laurel will urge the presidents of the largest markets in Metro Manila
01:17to find out the root of the problem.
01:19Random inspections will also be carried out in the markets to obtain price data
01:25and proper action will be taken to address the problem.
01:29The DA will warn that if the price of the main products is proven to be too high,
01:35the price manipulation, profiteering, and cartel will be punished.
01:41It is possible to face up to 15 years in prison
01:45and pay a fine of up to P2 million if the price act is proven to be low.
01:51Secretary T. Laurel Jr. assured that the issue will be solved
01:55and the DA will not let many Filipinos because of the cartel.
02:01Kalay Zalpardilla for Pambansang TV in Bagong, Philippines.
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