THE Department of Trade and Industry (DTI) is urging the public to keep their coins circulating.
DTI 11 regional director Marizon S. Loreto said the office already received some complaints from consumers relative to not getting the exact change from supermarkets or department stores where they buy their needs.
“There are consumers who are telling us that instead of getting the exact change of P0.50 or P1.00, the cashier instead gives them a piece of candy. At times, they no longer get their change,” she said.
Hoarding of coins has been a major reason for this situation and the Philippine Amalgamated Supermarkets Association (PAG-ASA) has asked the DTI’s Bureau of Trade Regulation and Consumer Protection (BTRCP) to correct the situation.
“Retailers like us approach the many banks we deposit with and request for coins/small bills but still do not get enough to service our customers satisfactorily,” said PAG-ASA president Steven T. Cua.
Further, retailers have also asked their employees to clean their homes of coins and bring them to the stores which will be exchanged for bigger bills.
Cua said the number of malls or commercial complexes being established annually may have also caused the reported scarcity of coins.
“I suppose the number of malls/commercial complexes being built (just imagine the number of tenants per mall!) every year also compete with us (existing establishments) in the need for coins/bills as change for transactions,” Cua said.
Considering this scenario, Loreto said that cooperation among heavy small denomination collectors and the general public is necessary.
“We have to help each other keep the coins in circulation for everyone’s benefit,” she said adding that in this way, the establishments will have enough supply of coins as change for transactions while doing away with complaints about short-changing.”
However, Loreto said establishments must never forget the fact that not giving the exact change to their customers is a violation of Republic Act 7394 or the Consumer Act of the Philippines.
“This is against RA 7394’s Article 52 or the Unfair and Unconscionable Sales Act or Practice,” she said. [DTI11/Jenny Molbog-Mendoza]
