DTI conducts SRP compliance check in Albay, aids MSMEs amid lingering oil shock

By Sally A. Altea

LEGAZPI CITY, Albay --- As rising oil prices affect household budgets and business costs, the Department of Trade and Industry (DTI) Albay is strengthening price monitoring and assistance to help consumers and micro, small and medium enterprises (MSMEs) cope with the impact.

DTI Albay Provincial Director Noel B. Bunao said the agency continues to carry out its mandate while supporting government measures, including the Unified Package for Livelihoods, Industry, Food and Transport (UPLIFT) program.

“We at DTI will continue to carry out our mandate in support of the programs of our president, particularly the UPLIFT program,” Bunao said.

For consumers, DTI continues to monitor the prices and supply of necessities and ensure that covered products comply with the suggested retail prices (SRP).

The agency is also implementing a price freeze on necessities across Albay following the provincial declaration of a state of calamity due to the increase in dengue cases.

Among the products being monitored are bread, canned fish, coffee, processed milk, salt, laundry soap, detergent, candles, noodles, and mineral water.

For consumer Railyn Lucido of Bascaran, Daraga, regular price monitoring provides some assurance that consumers have government support as they deal with increasing expenses.

“For us consumers, it is a big help that DTI monitors the prices of basic necessities,” Lucido said.

“It is good that the government is doing something to somehow ease the increase in the prices of goods,” she added.

Bunao also urged consumers to shop within their budgets and avoid unnecessary expenses.

“We have a wide range of products available under DTI’s jurisdiction, and there are many branches where we can shop. Let us be wise and purchase only what our budget allows,” he said.

He also encouraged consumers to limit unnecessary trips whenever possible to help manage transportation and other household expenses.

In addition to consumer protection, the DTI is providing assistance to MSMEs that are facing higher operating and transportation costs due to rising fuel prices.

Bunao said that the agency offers business continuity planning and training to help affected businesses identify alternative measures during disruptions and crises.

“For our business owners, we at DTI continue to provide business continuity planning, especially for our affected MSMEs. They are given training to come up with other options to address this kind of crisis,” he said.

DTI also facilitates access to financing through the Small Business Corp., giving MSMEs an option to secure additional working capital.

According to Bunao, the loans are available without collateral and carry low interest rates.

For small business owner Rosalie Atos of Barangay Bogtong, Daraga, the assistance can help businesses respond to rising costs while improving their products.

“This is a big help in our daily lives because it provides us with additional knowledge and capital to improve our products and purchase better packaging,” Atos said.

DTI also encourages local government units (LGUs) to activate their local price coordinating councils (LPCCs) to complement the agency’s price monitoring efforts at the local level. (Raiza Lucido contributed to this report/PIA Bicol/Albay)