Gov't eyes price cap for construction materials in Marawi

MANILA -- Department of Trade and Industry (DTI) Secretary Ramon Lopez said the agency would identify price ceilings for particular construction materials in Marawi City and nearby areas to avoid overpricing in products needed for the rehabilitation.

"The NPCC (National Price Coordinating Council) will be declaring by Monday the price ceiling for specific construction material products, brands in specific towns in and around Marawi," Lopez told reporters in a text message.

"[This is] to prevent undue increases in prices during the rehabilitation stage," he added.

The DTI chief said there should also be depots in the areas to ensure the availability of construction materials, and that the materials are coming directly from manufacturers.

Meanwhile, Board of Investments Governor Napoleon Concepcion said in a separate interview that DTI has allotted some PHP5 million as microcredit for internally displaced people (IDPs) in Marawi who would like to immediately start some business.

DTI is also directly rolling out the microfunds for the IDPs, in which the beneficiaries can pay their loans through pawnshops.

The DTI also allocated PHP45 million as loans for small and medium enterprises (SMEs) in Marawi. This fund will be rolled out through conduits. (PNA)