Ministry Vows Crackdown On Indiscriminate Price Hikes

KUCHING: The Ministry of Domestic Trade, Cooperatives and Consumerism has vowed to go after traders who increase the prices of goods indiscriminately.

Its state director Stanley Tan said profiteers would be investigated and prosecuted under the Price Control and Anti-Profiteering Act 2011.

“We are monitoring the situation. But my advice to the traders is not to take advantage of the increase in the prices of RON95 and diesel,” Tan told The Borneo Post yesterday when commenting on the possibility traders would hike prices in view of the reduction of subsidies.

The subsidies for RON95 and diesel were reduced by 20 sen per litre effective yesterday, bringing the new respective subsidised prices to RM2.30 per litre and RM2.20 per litre.

The current market price for RON95 is RM2.58 per litre, while for diesel it is RM2.52 per litre.

Tan cautioned traders not to use the reduced subsidies as an excuse to increase the prices of goods and services unscrupulously, pointing out that those doing so could be fined up to RM100,000, three years in prison or both under the Act.

He disclosed that 321 ‘Ops Harga’ cases were recorded as of January.

“Our ‘Ops Harga’ will continue and we are doing it to make sure all traders display the prices of goods and services offered,” he said.

He said the ministry would also monitor the prices of essential goods in the rural areas, especially at point-of-sale shops selected to sell subsidised goods.

“At the same time we are monitoring the prices of 80 essential and controlled items, which will be recommended to be exempted from GST (goods and services tax) to be implemented on April 1 next year,” said Tan.

He also advised the public to be wise and not fall into the trap of unscrupulous traders.

“I would also like to advise consumers to shop at 1Malaysia shops, which will continue to sell goods at the normal prices with guaranteed quality,” he said, adding that there are currently 18 such shops statewide, with plans to increase the number to 31 covering every parliamentary constituency.

“It’s always good to compare prices of goods and services before purchasing them especially if it involves a substantial amount,” he added, saying consumers should also check the prices of food and drinks before placing their orders. -BorneoPost