MANILA, Philippines – The Department of Trade and Industry (DTI) is looking to amend provisions in the Consumer Protection Law to protect consumers from fraud, and price and standard irregularities.
DTI Undersecretary Victorio Dimagiba said the agency will propose higher fines for violators of the Consumer Act.
He said the proposal seeks to raise the minimum fine to P50,000 from P500 and the maximum fine to P1 million from P300,000.
He added that the DTI will also push to increase imprisonment to two years from six months.
The proposed amendments will also seek to strengthen regulations on online sales or e-commerce in wake of complaints of non-full disclosure on products and other acts of deceptive sales.
The 22-year-old Consumer Protection Law protects consumers from illegal practices involving prices, standards, false or misleading information, deception, and product warranties.