Two companies postpone price reviews after meeting ministry, says Armizan
The Domestic Trade and Cost of Living Minister said he had advised the two companies, which are an ice-manufacturing company and a frozen food manufacturer, to refrain from raising their prices.
'The two companies then said, on July 1, that they had postponed price adjustments to another date that will be announced later.
'So far, they have postponed their plans,' said Armizan during a press conference after an appreciation event for the ministry's strategic enforcement partners in Putrajaya on Thursday (July 3).
Armizan said that during the July 1 meeting, the two companies did not mention the implementation of the expanded sales and service tax (SST) as among the reasons why they had to review prices.
'They mentioned increases in operational costs and logistics, as well as the implementation of the minimum wage order, because they have a huge workforce.
'Anyway, when they announce price hikes, my ministry has the prerogative under the Price Control and Anti-Profiteering Act 2011 to ensure that it is fair.
'If there are profiteering elements, we will issue a written notice for them to answer to,' added Armizan.
Meanwhile, Armizan urged the public to report any unreasonable price hikes to his ministry.
'I welcome complaints from the public because this requires public participation,' added Armizan.
Armizan also said the public must send complaints with full information on the item and its price.
Armizan also said that after receiving a complaint from the public, they will take action within 24 hours.
'The detailed complaint will make it easier for us to investigate,' added Armizan.
Last month, the Finance Ministry said the expanded SST will begin on July 1 when a sales tax of 5% to 10% would be imposed on certain non-essential goods.
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