DTI eyes approval of P125 per week discount for senior citizens within March | ABS-CBN
ADVERTISEMENT
Welcome, Kapamilya! We use cookies to improve your browsing experience. Continuing to use this site means you agree to our use of cookies. Tell me more!
DTI eyes approval of P125 per week discount for senior citizens within March
DTI eyes approval of P125 per week discount for senior citizens within March
Seniors rest at Fisher Mall in Quezon City on August 15, 2019. ABS-CBN News
Seniors rest at Fisher Mall in Quezon City on August 15, 2019. ABS-CBN NewsMANILA - The Department of Trade and Industry on Thursday assured senior citizens that the higher discount on basic and prime commodities will be approved within March after House Speaker Martin Romualdez announced it yesterday.
MANILA - The Department of Trade and Industry on Thursday assured senior citizens that the higher discount on basic and prime commodities will be approved within March after House Speaker Martin Romualdez announced it yesterday.
From the current P65 per week limit, senior citizens will be entitled to a P125 discount on basic goods including agricultural products and cooking gas.
From the current P65 per week limit, senior citizens will be entitled to a P125 discount on basic goods including agricultural products and cooking gas.
Under the law, senior citizens are entitled to a 5 percent discount on basic goods in supermarkets but it is capped to P65 per week.
Under the law, senior citizens are entitled to a 5 percent discount on basic goods in supermarkets but it is capped to P65 per week.
DTI Asec Amanda Nograles said a public consultation will be held by mid-March where several proposals will be discussed like doing away with the booklet and replacing it with a QR code, and the scope of products included in the discount list.
DTI Asec Amanda Nograles said a public consultation will be held by mid-March where several proposals will be discussed like doing away with the booklet and replacing it with a QR code, and the scope of products included in the discount list.
ADVERTISEMENT
Nograles said the DTI will also invite the Bureau of Internal Revenue to discuss the issue of a tax deduction for supermarket owners if the discount will be shouldered by businesses.
Nograles said the DTI will also invite the Bureau of Internal Revenue to discuss the issue of a tax deduction for supermarket owners if the discount will be shouldered by businesses.
According to Nograles, the issue of whether the discount can be availed once a month instead of weekly will also be settled during the public consultation.
According to Nograles, the issue of whether the discount can be availed once a month instead of weekly will also be settled during the public consultation.
Some seniors prefer to go to the supermarket only once a month but according to the rules, the P125 discount should be availed weekly or a total of P500/month.
Some seniors prefer to go to the supermarket only once a month but according to the rules, the P125 discount should be availed weekly or a total of P500/month.
SUPERMARKETS REACT
SUPERMARKETS REACT
Supermarket owners continue to oppose the move to increase the discount if this will be passed on to them as an additional cost.
Supermarket owners continue to oppose the move to increase the discount if this will be passed on to them as an additional cost.
ADVERTISEMENT
Carlos Cabochan, president of the Philippine Consumer Centric Traders Association said prices may go up if the government pushes through with the additional discount.
Carlos Cabochan, president of the Philippine Consumer Centric Traders Association said prices may go up if the government pushes through with the additional discount.
Cabochan said supermarket owners usually have a markup of 4 to 5 percent which is negated once the 5 percent discount of seniors kicks in.
Cabochan said supermarket owners usually have a markup of 4 to 5 percent which is negated once the 5 percent discount of seniors kicks in.
According to Cabochan, increasing the discount to P125/week will translate to a P70-billion increase in costs for supermarkets.
According to Cabochan, increasing the discount to P125/week will translate to a P70-billion increase in costs for supermarkets.
He said some supermarkets may close shop if they don't earn a profit from selling goods.
He said some supermarkets may close shop if they don't earn a profit from selling goods.
The group will also clarify the minimum number of basic goods before the discount kicks in.
The group will also clarify the minimum number of basic goods before the discount kicks in.
ADVERTISEMENT
Cabochan said if for example a senior opts to avail of the P125 discount on a single item, supermarkets will lose a lot of money.
Cabochan said if for example a senior opts to avail of the P125 discount on a single item, supermarkets will lose a lot of money.
ADVERTISEMENT
ADVERTISEMENT
