NORTHERN MINDANAO – The Department of Trade and Industry (DTI) in Region 10 announces the release of the Local Price Coordinating Council (LPCC) Toolkit.
The LPCC Toolkit is a comprehensive resource aimed at fortifying the efforts of LPCCs in ensuring the stabilization of prices for basic necessities and prime commodities.
Enacted some 30 years ago, Republic Act 7581, otherwise known as the Price Act, was a pivotal legislative move by Congress to establish mechanisms for price stabilization.
Among its key provisions was the creation of the Price Coordinating Council tasked to develop strategies to effect general stabilization of prices of basic necessities and prime commodities at affordable levels, among others. In 1993, the implementing rules and regulations of RA 7581 mandated the establishment of Provincial and City Price Coordinating Councils, collectively referred to as LPCCs.
Functioning as a comprehensive “toolkit,” the LPCC Toolkit aims to consolidate and elaborate on pertinent laws, rules, and regulations, along with administrative issuances relevant to the powers, functions, duties, and responsibilities of LPCCs and the implementing member agencies under RA 7581, as amended by RA 10623.
DTI Secretary Alfredo E. Pascual lauds the initiative stating that “this is critical in assisting provincial offices in Region X, as this toolkit will be valuable in providing administrative, technical, and support services to LPCCs in your jurisdiction. Moreover, this toolkit is essential for navigating complex pricing issues and promoting fair practices within your region to ensure the safety of Filipino consumers.”
DTI 10 Regional Director Ermedio J. Abang explains that the toolkit is developed as a comprehensive resource to facilitate LPCCs’ objectives in managing and coordinating local prices, especially during economic crises, natural disasters, or emergencies.
“We are optimistic that this ‘toolkit’ will provide valuable aid to LPCCs, empowering them to carry out their respective mandates more effectively. The objective is to ensure the availability of basic necessities and prime commodities at reasonable prices at all times while maintaining a fair return on investment for legitimate businesses.” RD Abang said.
The online version of the LPCC Toolkit can be downloaded here: https://bit.ly/R10LPCC-toolkit ♦
Date of Release: 31 January 2024