QuestionsQuestions (PRC BOARD OF INTERIOR DESIGN Resolution NO. 03, S. 1999)
To prevent monopoly, hoarding, injurious speculation, manipulation, and profiteering in the supply, distribution, and marketing of specified essential commodities, and to fix maximum prices consistent with state policies to increase production and productivity.
Medicines, drugs and surgical supplies; food and foodstuffs; clothes, clothing, and sewing/weaving materials and supplies; fuels and lubricants; construction materials; educational supplies and equipment; and fertilizers, insecticides, pesticides, and other agricultural inputs.
The Secretary of Commerce and Industry, the Secretary of Agriculture and Natural Resources, the Secretary of Health, the Chairman of the National Economic Council, and a consumer representative appointed by the President with consent of the Commission on Appointments.
A natural-born Filipino citizen; at least 30 years of age; and not connected with the production, supply, distribution, or marketing of the covered items.
A majority of members constitutes a quorum, and three affirmative votes are necessary for any action or decision.
In each province and chartered city, local price councils are created; their composition, functions, and scope of authority are determined by the Price Control Council, under its immediate control and supervision.
When the market price of a covered commodity has risen or threatens to rise by 20% or more over its price on March 1, 1969, or when the Council deems the prevailing price should be reduced due to monopoly, hoarding, injurious speculation, manipulation, and profiteering.
Maximum price cannot exceed production cost plus a 10% markup to the manufacturer/producer, 5% to the wholesaler, and 10% to the retailer.
Maximum price cannot exceed landed cost plus a 5% markup to the importer/indentor, 5% to the wholesaler, and 10% to the retailer.
Ten days after publication in two newspapers of general circulation in the Philippines—one in English and one in the National language.
After notice and hearing, it certifies local producers/manufacturers’ needs and recommends to the Monetary Board that the Central Bank make available foreign exchange for importing adequate raw materials and supplies; if local production cannot cover the shortage, it certifies the shortage/deficiency and recommends foreign exchange for importing the commodity.
The Council may recommend, and the President may authorize, any government agency (except government financial institutions) to directly import the commodity for distribution in the local market.
They require President approval, take effect 15 days after publication once a week for two consecutive weeks in at least two newspapers (one English and one in the National language), and must be posted at the entrance of each city hall or municipal building in English and the local dialect.
Selling any covered commodity in excess of the Council’s maximum selling price, or violating any provision of the Act or any order/rule/regulation issued pursuant to it.
Imprisonment of not less than 2 months nor more than 5 years or a fine of not less than ₱2,000 nor more than ₱20,000, or both. For aliens, after conviction and service of sentence, the offender is immediately deported. For corporations/associations, the president and directors/managers or agent/representative who knowingly permitted or failed to prevent the offense are held liable as principals.
Any government official/employee who, by neglect or connivance, aided/abetted violations is liable as co-principal and must suffer perpetual absolute disqualification. Officials who divulge confidential business information acquired in official duties (unless authorized by law) face fine and imprisonment specified in Section 6.
If any provision or its applicability is held invalid, the validity of the other provisions and their applicability to other persons/circumstances are not affected.
It takes effect upon approval and remains in force up to June 30, 1971 (with stated rules that convictions remain valid/enforceable and prosecutions for offenses committed during effectivity are not barred until terminated by conviction or acquittal).