FILE PHOTO: Chemicals sealed in a container is stored in warehouse.
MAKATI CITY, Philippines — The new implementing rules and regulations (IRR) imposed by the Department of Trade and Industry (DTI) on controlled chemicals would have significant impact on the prices of oil products.
In the past, manufacturers needed to go through tedious exportation process in order to bring chemicals into the country.
Under the new IRR, the process has been simplified and the export fee of P2,500 has been removed.
“It would pull down the prices because the escort fees were removed so there’s no more additional. Imagine from one movement of chemicals you save P2,500,” said Gretchen Enarle, spokesperson Chemical Industries Asociation of the Philippines.
Even the importation of sodium chloride or salt had been difficult for manufacturers in the past.
“The processing of permits was tedious and slow. But from what was said earlier, it was streamlined,” Enarle said.
At present, the said industry has great potential for progress.
The Philippine National Police is glad over the new IRR because they can now closely monitor the entrance of chemicals specifically those used in making explosives.
“Once regulated, our primary concern is to monitor the use of these chemicals, the movement of sales, from the importation to the port. Whether for magazine or whatever its purpose of use, may it be industrial or for explosives,” PSS. Cesar Binag said.
Through the new IRR, more investors will be encouraged to invest in the country because the process of establishing business in the country has been simplified.
(MON JOCSON/UNTV NEWS)
The post DTI’s rules on “controlled chemicals” to lower prices of some commodities appeared first on UNTV News.