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Seniors rest at Fisher Mall in Quezon City on August 15, 2019. ABS-CBN News

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Senior citizens

Alvin Elchico

ABS-CBN News

<div><span class="fr-img-caption fr-fic fr-dib" style="width:950px"><span class="fr-img-wrap"><img src="https://od2-image-api.abs-cbn.com/prod/editorImage/20240229070212_e2537808442df4d4801efa87b262315ac816383925eff0c9a6a64d84feb329aa.jpg" style="width:950px" class="fr-fic fr-dib"/><span class="fr-inner" style="text-align:left">Seniors rest at Fisher Mall in Quezon City on August 15, 2019. <em>ABS-CBN News</em></span></span></span></div><p>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.</p><p>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.</p><p>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.</p><p>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.</p><p>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.</p><div><span class="fr-video fr-deletable fr-fvc fr-dvb fr-draggable" contenteditable="false" draggable="true"><iframe width="640" height="360" src="https://www.youtube.com/embed/MP7XJ1nMf3U?&amp;wmode=opaque&amp;rel=0" frameBorder="0" allowfullscreen="" class="fr-draggable"></iframe></span><br/></div><p>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.</p><p>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.</p><p>SUPERMARKETS REACT</p><p>Supermarket owners continue to oppose the move to increase the discount if this will be passed on to them as an additional cost.</p><p>Carlos Cabochan, president of the Philippine Consumer Centric Traders Association said prices may go up if the government pushes through with the additional discount.</p><div><a href="https://news.abs-cbn.com/news/2024/2/8/senior-discount-on-promo-price-proposed-1548">Bill seeks senior discount on promo price</a></div><p>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.</p><p>According to Cabochan, increasing the discount to P125/week will translate to a P70-billion increase in costs for supermarkets.</p><p>He said some supermarkets may close shop if they don&#x27;t earn a profit from selling goods.</p><p>The group will also clarify the minimum number of basic goods before the discount kicks in.</p><p>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. </p><div><br/></div><div><br/></div>

<p>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.</p>

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.

DTI eyes approval of P125 per week discount for senior citizens within March

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DTI eyes approval of P125 per week discount for senior citizens within March

Alvin Elchico,

ABS-CBN News

Published Feb 29, 2024 03:43 PM PHT

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senior citizens

seniors

elderly

senior citrizens discount

basic goods

supermarkets

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