Commerce Ministry Closes Down Several Businesses

The Ministry of Commerce & Industry has shut down several businesses for various offenses-including hike in rice price, sale of unwholesome products, expired business registration, etc. The affected businesses were shut down within the Rally Time Community and the commercial District of Red Light.

They were caught in the act today, during a regular routine inspection carried out by Commerce & Industry Minister, Magdalene E. Dagoseh.  During the exercise, it was discovered that those in the Rally Time area were hiking the price of rice from US$14.00 to US$15.50 and even up to between US$15.50 to US$15.75, while those shut down in Red Light were operating without business registration, sale of expired products and expired business registration. 

The action of the businesses caught in price hike runs contrary to last week’s decision reached between local rice importers and the Commerce Ministry for the wholesale and retail prices of the 25kg bag of rice to remain at US$14.00 & US$14.50, respectively. The affected businesses will remain closed until appropriate fines imposed by the Ministry are paid.