A resolution requesting the City Mayor's Office – Price Monitoring Unit, through Mayor Evelio Leonardia, to closely monitor the price of basic and prime commodities in view of the recent passage of the Tax Reform for Acceleration and Inclusion, or Train law, was approved by the Bacolod Sangguniang Panlungsod yesterday.
The resolution, authored by Councilor Em Ang, said President Rodrigo Duterte signed into law Republic Act 10963, or the TRAIN law, the first package of the Comprehensive Tax Reform Program on December 19, 2017.
It has been observed that some business establishments are taking advantage of the passage of the TRAIN Act to hike the prices of basic commodities at the detriment of consumers, it said.
There is a need to closely monitor the price of basic and prime commodities being sold in Bacolod City to protect the consuming public from exorbitant, unreasonable, and excessive price increases, the resolution added.*CGS
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