MSMEs Price Disclosure Act pushed in Congress

MSMEs Price Disclosure Act pushed in Congress

MSMEs Price Disclosure Act pushed in Congress


ORANI, Bataan – Bataan 1st District Congresswoman Geraldine B. Roman has filed House Bill 4563 known as “MSMEs Price Disclosure Act of 2016,” requiring all micro, small, and medium enterprises (MSMEs) to provide consumers a standardized list of prices of goods or services being sold in their outlets.


Roman said that trust is an essential component in making sure that the economy continues to be robust.


“The interaction between consumers and the business owners/managers is founded upon the main presumption of regularity and pricing standards. Without this, trust erodes and business opportunities fail,” the lady solon said.


The neophyte lawmaker added that there have been reports that some of the country’s MSMEs outlets have been engaging in unscrupulous practices that include price adjustments depending on the impression of the vendor/manager in their consumers.


“When the consumer looks economically better, as if by some sheer inexplicable force, the prices move up.  When the consumer does not look like such, by the same inexplicable force, the prices back down,” Roman reiterated.


This practice is reportedly rampant especially in the neighborhood variety stores called “sari-sari stores” and in the public markets in the cities and municipalities nationwide. 


Roman said that this could be easily resolved if all MSMEs are obligated to display a standardized list.


“The prices of all the goods and services offered shall be disclosed to the consumer to remove any chance for any unscrupulous behavior. With this measure, it is hoped that the erosion of trust – which must be avoided at all costs – will be prevented, and consumer loyalty and business negotiations will always flourish,” Roman concluded. 

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