KAJANG – The Ministry of Domestic Trade and Cost of Living (KPDN) will announce the Festive Season Maximum Price Control Scheme for Deepavali on November 6.
Deputy Minister Fuziah Salleh said the maximum prices will be set based on the need for festive goods for the upcoming festival.
“Usually we will set the maximum prices for basic necessities based on festivals such as Deepavali, which has its special items, and different items for Chinese New Year.
“We will enforce it for seven days before and after Deepavali and continuously monitor all locations,” she said after surveying the price of chicken at the Kajang market today.
On the implementation of the floating price for chicken, she said the ministry will constantly monitor and ensure traders and producers do not take advantage of the situation.
Fuziah said action can be taken under the Price Control and Anti-Profiteering Act 2011 against traders who set unreasonable prices, while producers or cartels are subject to the Competition Act 2010.
“There are some traders who are not clear on the floating of chicken prices because they asked me about the meaning of ‘floating’, and there are also some who add hidden costs, such as for cutting and so on, which is against the law.
“We will also control at the production level using the Competition Act, for example, to ensure cartels do not take advantage by making pacts to hike prices,” she said.
KPDN has mobilised more than 2,200 enforcement personnel nationwide to conduct inspections under the Price Control and Anti-Profiteering Act 2011 to ensure there are no indiscriminate price hikes, she added.
The ministry is also committed to daily monitoring of the price of goods with more than 900 KPDN price monitoring officers deployed at about 1,500 premises, including wet markets, hypermarkets and supermarkets, mini markets, and grocery shops throughout the country, said Fuziah. – November 3, 2023