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Prices Of Goods Are Going Up Soon, Says Deputy Minister

Prices Of Goods Are Going Up Soon, Says Deputy Minister

The Ministry of Domestic Trade and Consumer Affairs (KPDNHEP) will investigate each and every case of excessive price increases thoroughly, says its Deputy Minister Datuk Rosol Wahid.

Ikhwan Zulkaflee

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Suppliers and traders have been warned against excessive price hiking by the Ministry of Domestic Trade and Consumer Affairs (KPDNHEP) or risked facing stern actions taken against them.

Its Deputy Minister, Datuk Rosol Wahid pledged that each and every case of excessive price increases will be investigated thoroughly throughout the nation to prevent excessive profiteering activities by any parties.

“With regards to the price increase, there is no single way to curb the issue as it is a global phenomenon that affected the whole world. What the government can do is to subsidise the goods.

“We admit that there will be an increase in the price of the goods due to various factors, including Covid-19, transportation, the foreign exchange rate, the Russian-Ukraine war and also the floods. Even the announcement of the new minimum wage of RM1,500 is feared to be another contributing factor,” Rosol was quoted as saying by Utusan Malaysia.

Rosol said that 1,000 price monitoring officers will monitor business activities across the country.

Earlier, Utusan Malaysia reported that bazaars Ramadan traders and traders associations in Kedah, Selangor, Perak dan Negeri Sembilan had stated that they will have to raise the prices of their menus to cover the cost of increasing goods.

Rosol reminded the traders to be mindful and not to burden the consumers or face being taken action under the Price Control and Anti-Profiteering Act (AKHAP) 2011.


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