Favila says lifting of E.O. 839 sufficiently explained

MANILA, Nov. 13 — Department of Trade and Industry (DTI) Secretary Peter Favila on Friday said that the lifting of Executive Order 839 has already been sufficiently explained to the affected sectors.

President Gloria Macapagal-Arroyo issued E.O. 839 ordering a price freeze on petroleum products, as well as in the prices of basic and prime commodities at the Oct. 15, 2009 levels.

President Arroyo is set to meet with the Department of Justice-Department of Energy (DOJ-DOE) Task Force on oil in Malacanang on Friday.

The Chief Executive is expected to act on E.O. 839 after attending the Asia-Pacific Economic Cooperation (APEC) Summit in Singapore this weekend.

According to Favila, he has already talked to President Arroyo about the recommendation to finally lift the implementation of E.O. 839.

The recommendation was submitted by the National Disaster Coordinating Council (NDCC) and the DTI.

The DTI Chief added that they are set to meet with business sectors industry to explain the mechanics in the lifting of E.O. 839, as well as the lifting of price freeze on basic and prime commodities.

"We have no problem as far as supply is concerned. The price in the market should be reasonable to the costumers," Favila said.

For its part, "as a win-win solution", the Federation of Philippine Industry (PFI) led by Jesus Arranza, has recommended a "selective implementation" of E.O. 839, rather than its "total lifting" by Malacanang. (PNA)

V3/PTR

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