AN ACT AMENDING CERTAIN PROVISIONS OF REPUBLIC ACT NO. 7581
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AN ACT AMENDING CERTAIN PROVISIONS OF REPUBLIC ACT NO. 7581
Republic Act No. 10623
September 6, 2013
Case Overview and Summary
Summary of Republic Act No. 10623Definitions and Coverage
- Section 1 amends Section 3(1) of Republic Act No. 7581 to define "basic necessities" as goods vital to consumers' sustenance and existence during emergency situations, such as rice, corn, fish, meat, eggs, water, milk, vegetables, fruits, noodles, coffee, sugar, cooking oil, salt, soap, firewood, charcoal, LPG, kerosene, candles, and essential drugs. (Section 1)
- Section 2 amends Section 3(8) to define "prime commodities" as goods not considered basic necessities but essential during emergency situations, such as flour, processed meat, dairy products, spices, toilet soap, fertilizers, pesticides, feeds, paper, school supplies, construction materials, batteries, electrical supplies, and non-essential drugs. (Section 2)
- Section 3 amends Section 4 to allow the inclusion or exclusion of goods from the definitions of basic necessities and prime commodities through public hearings and approval by the President, considering their essentiality or luxury status. Excluded goods may be reinstated during acute shortages. (Section 3)
Price Control Measures
- Section 4 amends Section 6 to impose automatic price control on basic necessities for up to 60 days during emergency situations, unless lifted earlier by the President. For wholly imported and deregulated basic necessities like household LPG and kerosene, price control shall be effective for up to 15 days, considering current inventory levels. (Section 4)
Price Coordinating Council
- Section 5 amends Section 11 to establish the Price Coordinating Council, chaired by the Secretary of Trade and Industry, with members from various government agencies, and representatives from consumer, agricultural, trading, and manufacturing sectors. (Section 5)
- Section 6 amends Section 12(2) to require the Council to report semi-annually to the President and Congress on the status of programs, strategies, and goods included or excluded from basic necessities and prime commodities. (Section 6)
Implementation and Effectivity
- Section 7 requires the Department of Trade and Industry to promulgate implementing rules and regulations within 90 days of the law's effectivity, in consultation with the Council and stakeholders. (Section 7)
- Section 10 states that the law shall take effect 15 days after publication in at least two newspapers of general circulation. (Section 10)
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Law
AN ACT AMENDING CERTAIN PROVISIONS OF REPUBLIC ACT NO. 7581
Republic Act No. 10623
•September 6, 2013
Republic of the PhilippinesCONGRESS OF THE PHILIPPINESMetro Manila
Fifteenth CongressThird Regular Session
Begun and held in Metro Manila, on Monday, the twenty-third day of July, two thousand twelve.
REPUBLIC ACT NO. 10623
AN ACT AMENDING CERTAIN PROVISIONS OF REPUBLIC ACT NO. 7581, ENTITLED "AN ACT PROVIDING PROTECTION TO CONSUMERS BY STABILIZING THE PRICES OF BASIC NECESSITIES AND PRIME COMMODITIES AND BY PRESCRIBING MEASURES AGAINST UNDUE PRICE INCREASES DURING EMERGENCY SITUATIONS AND LIKE OCCASIONS" AND FOR OTHER PURPOSES
Be it enacted by the Senate and House of Representatives of the Philippines in Congress assembled:
Section 1. Section 3(1) of Republic Act No. 7581, otherwise known as the "Price Act", is hereby amended to read as follows:
"Section 3. Definition of Terms. – For purposes of this Act, the term:
"(1) ‘Basic necessities’ are goods vital to the needs of consumers for their sustenance and existence in times of any of the cases provided under Section 6 or 7 of this Act such as, but not limited to, rice, corn, root crops, bread; fresh, dried or canned...
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