The Domestic Trade and Cost of Living Ministry (KPDN) will announce the Festive Season Maximum Price Control Scheme for Deepavali on Nov 6.
According to Deputy Minister Fuziah Salleh, the maximum prices will be determined based on the need for festive goods for the upcoming festival.
“Typically, we set the maximum prices for basic necessities during festivals such as Deepavali, which have their own special items, as well as different items for Chinese New Year,” she said.
She further explained that the scheme will be enforced for seven days before and after Deepavali, with continuous monitoring taking place in all locations.
Regarding the floating price for chicken, Fuziah stated that the ministry will regularly monitor and ensure that traders and producers do not exploit the situation.
Under the Price Control and Anti-Profiteering Act 2011, action can be taken against traders who set unreasonable prices, while producers or cartels are subject to the Competition Act 2010.
“Some traders are unclear about the concept of floating prices. They have asked me about its meaning. Furthermore, there are those who add hidden costs, such as cutting fees, which is against the law,” Fuziah explained.
In her statement, she also emphasized that the Competition Act will be used to control production to prevent cartels from forming agreements to raise prices.
To ensure that indiscriminate price hikes are avoided, the ministry has deployed over 2,200 enforcement personnel nationwide to conduct inspections under the Price Control and Anti-Profiteering Act 2011.
Fuziah also mentioned that there are more than 900 price monitoring officers stationed at approximately 1,500 premises, including wet markets, hypermarkets, supermarkets, mini markets, and grocery shops, to monitor the daily price of goods across the country. – Bernama
