PUTRAJAYA – The mechanism for controlling the prices of goods and setting ceiling prices on certain goods will be reviewed soon, said Domestic Trade and Cost of Living Minister Datuk Seri Salahuddin Ayub.
“We will definitely review it soon because it has been a year (maximum price set),” he told a press conference after delivering the ministry’s 2023 New Year’s address here today.
The Federation of Malaysian Retailers Association recently raised that the government should re-evaluate the price control mechanism – which is considered to be out of date and has resulted in the short supply of controlled goods such as eggs, sugar, and cooking oil.
The association also suggested that the government consider floating the prices according to the market, but at the same time provide purchase coupons or discounts to the target group.
On the ministry’s Payung Rahmah initiative – which includes the Bakul Rahmah, Jualan Rahmah, Kafe Rahmah, and Pakej Rahmah programmes – to reduce the cost of living, Salahuddin said the ministry will focus its implementation on the hardcore poor.
According to him, Statistics Department data as of December 31, 2022 showed that there were 130,000 poor household heads in the country.
In a separate development, he denied that there was no packet cooking oil in the market as claimed by some parties, but assured that ministry officials will act immediately if there are complaints about the lack of supply.
Earlier in his speech, Salahuddin also announced several other offers, among them, the Companies Commission will give a 90% compound reduction from the original value of the compound on companies with a “dissolved” status under the Companies Act 1965.
The commission will also continue to reduce the compound by 90% of the original compound value for regular offences under the Companies Act 2016, he said. – Bernama, January 10, 2023
