Section 2Sec./Art. 2

Declaration of Basic Policy. It is the policy of the State to ensure the availability of basic necessities and prime commodities at reasonable prices at all times without denying legitimate business a fair return on investment. It is also a declared policy of the State to provide effective and sufficient protection to consumers against hoarding, profiteering and cartels with respect to the supply, distribution, marketing and pricing of said goods, especially during periods of calamity, emergency, widespread illegal price manipulation and other similar situations. To these ends, the State shall:

1. Develop, adopt and promulgate measures to promote productivity in basic necessities and prime commodities;

2. Develop an improved and efficient transport and distribution system;

3. Develop, adopt and promulgate measures to stabilize prices at reasonable levels;

4. Institute appropriate penalties for illegal price manipulation and other violations of this Act; and

5. Establish a mechanism that will readily protect consumers from inadequate supply and unreasonable price increases on occasions of calamities, emergencies and like occurrences.