School supplies makers won't hike prices- Favila

Makers and sellers of school supplies on Thursday assured the government that they will not increase their prices in time for the opening of classes this June. Trade Secretary Peter B. Favila said he received this promise from officials of the Philippine School Pads and Notebooks Manufacturers Association Inc., Sterling Group of Companies, Amalgamated Specialties, Corona Supply Co. Inc., Advance Paper Corp., Veco Paper Corp., Times Trading Co. Inc., Merriam and Webster Bookstore, Goodwill Bookstore and National Bookstore. Favila met with them Thursday morning to check on the supply situation and prices of school supplies throughout the country. During the meeting, the groups assured Favila that there will be no price increase and that there is adequate supply of said products to meet the expected increase in demand in time for the opening of classes in June. "Consumers can buy their school needs at the same prices as last year. This is good news especially for those parents are preparing for the opening of classes. We are glad that local businessmen are heeding the call of government in making goods affordable to consumers," Favila said. Even during election season, Favila said the DTI is still monitoring the price and supply of school supplies in the following weeks to ensure that no retailer would take advantage of the buying season to unjustly raise their prices. According to the DTI-National Capital Region monitoring report, current prevailing prices for school materials are as follows: Pad paper (econobond) Grade 1 (90 leaves) – P10.00 to P13.25 Grade 2 (90 leaves) – P10.00 Grade 3 (90 leaves) – P10.00 Grade 4 (90 leaves) – P10.00 to P13.25 Intermediate pad – P20.00 to P24.25 Notebook (econobond) Composition (90 leaves) – P11.50 to P12.75 Composition (50 leaves) – P8.00 Writing (90 leaves) – P11.75 Writing (50 leaves) – P8.00 Spiral (90 leaves) – P12.50 to P12.75 Spiral (50 leaves) – P8.50 Pencil (per piece) – P5.50 to P5.75 Manufacturers informed the Department that they are coming out with 80-leaves paper products, which will be one peso cheaper. This move gives consumers an affordable choice for its notebook and pad paper needs. Trade Undersecretary for Consumer Welfare Zenaida Cuison Maglaya reminded retailers to always disclose the true costs of their goods by placing a price tag on the items as mandated by the Price Tag Act. - GMANews.TV