Profiteering complaint to clampdown in 24 hours
Advising the public to report such traders, Minister Datuk Armizan Mohd Ali (pic) said the complaints must have full information on the items and the prices.
'I welcome complaints from the public because this requires public participation.
'A detailed complaint will make it easier for us to investigate,' he said in a press conference after an appreciation event for the ministry's strategic enforcement partners in Putrajaya yesterday.
Armizan also advised businesses to consult the ministry's Enforcement Department before they raise prices.
'We have a calculator to guide businesses on whether or not their hike amounted to profiteering.
'We also advise businesses to discuss with the Customs Department and the Finance Ministry,' he added.
Armizan also said two companies have agreed to postpone their planned price reviews on the ministry's advise.
'The two companies informed on July 1 that they had postponed their price adjustments to a later date,' he said.
During the July 1 meeting, he said the two companies did not mention that the implementation of the expanded Sales and Service tax (SST) was among the reasons they had to review their prices.
'They said the increases were due to operational costs and logistics, as well as the implementation of the minimum wage order because they have a huge workforce.
'However, when they announce the price hike, my ministry has the prerogative under the Price Control and Anti-Profiteering Act 2011 (Act 723) to ensure that price reviews are fair.
'If there are profiteering elements, we will issue a written notice for them to answer to,' he added.
Armizan said from 2021 to May 31 this year, his ministry recorded over 2,800 cases handed over by enforcement agencies.
Giving a breakdown of the cases, he said in 2021, a total of 250 cases were recorded followed by 2022 (615), 2023 (790), 2024 (822) and 335 cases from Jan 1 to May 31 this year.
'All these cases involve various issues, including the smuggling or embezzlement of subsidised products, with a combined value of RM199. 96mil,' said Armizan.
Most cases, he added, were handed over to his ministry by the General Operations Force (PGA) with 1,146 cases, followed by the marine police (866), police (661) and the armed forces (69).
'The consistent increase shows that inter-agency cooperation has not just contributed to the success of the enforcement operation, but also increased the effectiveness of protecting consumer rights,' added Armizan.
Last month, the Finance Ministry said the expanded SST would begin July 1 when a sales tax of 5% to 10% would be imposed on certain non-essential goods.
Putrajaya had announced that imported apples, oranges, mandarin oranges and dates will be exempted from the SST.
Also exempted are beauty services such as manicure, pedicure, facial and hairdressing.
The Finance Ministry also said the registration threshold for businesses in leasing, rental and financial services have been raised from RM500,000 to RM1mil, which will limit the number of small businesses affected.
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