Memorandum Order No. 197

 

 

DIRECTING THE SECRETARY OF TRADE AND INDUSTRY TO TAKE ALL APPROPRIATE STEPS AND MEASURES TO PREVENT HOARDING AND ARTIFICIAL PRICES OF COMMODITIES IN AREAS AFFECTED BY THE STATE OF CALAMITY

 

WHEREAS, practically the entire country was ravaged by the recent typhoons “Unsang,” “Welpring” and “Yoning,” resulting in a state of calamity in almost all regions;

 

WHEREAS, in such a situation prices of commodities are prone to be set artificially through hoarding and other illegal acts, thereby preventing market forces, including the recent price rollback in fuel and petroleum, from setting their real prices;

 

NOW, THEREFORE, the Secretary of Trade and Industry is hereby directed to forthwith take all the appropriate steps and measures to prevent hoarding and artificial prices of commodities and ensure the free play of market forces including the effect of the recent price rollback in petroleum and fuel items.

 

This Order shall take effect immediately.

 

Manila, November 8, 1988

 

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