📷Former Bayan Muna Rep. Carlos Isagani Zarate
Bayan Muna Partylist has sounded the alarm and slammed the Department of Trade and Industry’s (DTI) on its recent proposal to scrap the Suggested Retail Price (SRP) on essential goods, warning that it will severely impact low-wage earners in Mindanao.
“This plan will only worsen the already fragile financial condition of thousands of families in Mindanao, home to many of the country’s poorest regions,” former House Deputy Minority Leader Carlos Isagani Zarate said.
“For regions like Mindanao, where poverty rates are high and wages are low, such a policy shift could lead to uncontrolled price hikes on basic goods, adding an unbearable weight to those already struggling to make ends meet,” said Zarate, also a public interest lawyer based in Davao City.
Recent data from tge think-tank IBON Foundation highlights how the minimum wage in Mindanao falls drastically short of the family living wage. The minimum daily wage in various Mindanao regions ranges from PHP 350 (BARMM) to PHP 396, while the daily living wage needed to sustain a family of five is over PHP 1,100.
With this stark gap between wages and the cost of living, Zarate warned that further deregulation of prices would have a devastating effect on working families already struggling with rising costs.
Recent prices in Mindanao, where the cost of essential goods has already been steadily rising and most staple items becoming increasingly unaffordable, show that:
– Rice prices range from PHP 48 to PHP 62 per kilogram, with high-quality rice now reaching up to PHP 68 in some areas.
– Cooking oil has seen price hikes, currently at an average of PHP 160per liter, up from PHP 120 last year.
– Vegetables such as onions and tomatoes are priced between PHP 80 to PHP 140 per kilogram.
– Sugar now costs PHP 100 per kilogram, a significant increase from previous months.
“With the proposed removal of SRP, these prices can soar unchecked, hitting hardest those who spend most of their earnings on food,” Zarate stressed. “Many low-wage earners in Mindanao could be pushed to choose between putting food on the table or covering other essential expenses. In this period of inflation, the government should be acting to protect these families, not stripping away one of the few consumer protections they have.”
Bayan Muna has already raised concern in the increase of food insecurity among rural areas, with this, the government should prioritize wage increases and strong price control policies instead of lifting SRP. “Without the SRP, we risk escalating poverty and hunger, especially among those already bearing the brunt of low wages,” Zarate added.
“The Marcos Jr. Givernment should recognize by now, given the dire economic situation our country is in, of the severe repercussions of this SRP remival policy would have on working-class families, especially in Mindanao. Our workers need immediate wage relief and stronger consumer protections to safeguard our communities and prevent this crisis,” he concluded.#
