Centralised price system to boost transparency
Published on: Mon, Aug 04, 2025
By: Crystal E Hermenegildus Text Size: Armizan said the effort aligns with the Government's long-term plan to stabilise the cost of living by tackling the root causes of inflation- not only through subsidies, but by increasing supply chain efficiency and accountability. PENAMPANG: The Government will develop a centralised Price and Supply Repository System to monitor price trends and prevent manipulative practices in the market, said Domestic Trade and Cost of Living Minister Datuk Armizan Mohd Ali. He said the system, to be introduced under the 13th Malaysia Plan (13MP), will provide a transparent data platform to detect abnormal price movements and support enforcement action against profiteering and cartel-like behaviour. 'This is a proactive step toward ensuring fairer market practices and greater price transparency across the supply chain, especially for essential goods,' he told reporters after officiating the Seminar Kenegaraan Malaysia Madani: Rancakkan Madani Sabah at ITTC Penampang. According to Armizan, the repository system will consolidate real-time information on pricing, supply volumes, and distribution to assist both consumers and regulators in making informed decisions. 'Through this system, enforcement agencies will be able to act more swiftly and decisively using data-driven evidence. It's a game-changer in combating unethical manipulation and protecting consumer interests,' he said. He added that the system will be developed through inter-ministerial cooperation and partnerships with industry players, including suppliers, retailers, and logistics operators. Armizan said the effort aligns with the Government's long-term plan to stabilise the cost of living by tackling the root causes of inflation- not only through subsidies, but by increasing supply chain efficiency and accountability. 'The repository system is not just a database. It is a tool to break the monopoly of information held by certain parties who manipulate prices for profit,' he said. Enforcement under the Price Control and Anti-Profiteering Act 2011 and the Competition Act 2010 will also be strengthened using the data from the repository, which is expected to help uncover price-fixing activities, stock hoarding, and artificial shortages. Armizan emphasised that the initiative reflects the Madani Government's commitment to protecting consumers while creating s healthier market environment that encourages genuine competition. 'This is part of our wider agenda under 13RMP to raise the rakyat's purchasing power and build a resilient domestic economy,' he said. * Follow us on our official WhatsApp channel and Telegram for breaking news alerts and key updates! * Do you have access to the Daily Express e-paper and online exclusive news? Check out subscription plans available.
Stay up-to-date by following Daily Express's Telegram channel. Daily Express Malaysia
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
New Straits Times
22 minutes ago
- New Straits Times
Economy Ministry: 13MP amendments deliberate, not sudden
KUALA LUMPUR: Amendments to the draft of the 13th Malaysia Plan (13MP) were not sudden, but a deliberate effort to align it with the Madani Economy framework, the Economy Ministry said. In a written parliamentary reply, the ministry said the changes were to ensure the five-year development plan reflected the government's goals in a comprehensive and inclusive manner. "These changes are not abrupt or reactive, but rather to ensure the 13MP is fully aligned with the aspirations of the Madani Economy, which is the main framework of national development," the ministry said. The ministry was responding to a question from Datuk Seri Ronald Kiandee, the member of parliament for Beluran, who had questioned whether drastic policy changes had necessitated last-minute amendments to the 13MP. The ministry added that the blueprint was prepared based on extensive engagement sessions with relevant stakeholders that started in October 2024. The sessions involved ministries, federal departments and agencies, state governments, academics, industry players, non-governmental organisations and civil society organisations, it said. The restructuring and alignment process ensured all feedback and recommendations were integrated into the document in line with the government's core policies, the ministry said. "This is to ensure that the 13MP remains accurate, thoroughly planned, and can be implemented effectively and immediately by the ministries and implementing agencies after the tabling on July 31." On June 27, Chief Secretary to the Government Tan Sri Shamsul Azri Abu Bakar announced that Finance Minister II Datuk Seri Amir Hamzah Azizan would assume the duties and functions of the economy minister with immediate effect following the resignation of Rafizi Ramli. Amir Hamzah's primary responsibility is to revise and reformulate the contents of the 13MP, taking into account additional input submitted by ministries and views from the cabinet.
The Star
22 minutes ago
- The Star
13MP reflects government's commitment to fiscal discipline
A new course: Civil servants watching the live broadcast of the 13MP presentation by Anwar in Putrajaya. — Bernama KUALA LUMPUR: The recent tabling of the 13th Malaysia Plan (13MP) reflects the government's commitment to charting a sustainable development path while exercising fiscal prudence to help reduce the national deficit, said Universiti Kebangsaan Malaysia economic analyst, Associate Professor Dr Mustazar Mansur. He said Prime Minister Datuk Seri Anwar Ibrahim is taking the country's debt situation seriously, with a clear focus on curbing new borrowings and narrowing the fiscal deficit. "When the deficit declines, debt levels also fall. We've heard the Prime Minister previously speak about limiting new borrowings, and he is clearly committed to avoiding excessive debt,' he said. Mustazar was speaking as a guest on Bernama TV's Ruang Bicara programme yesterday, in an episode titled '13MP: The People's Socioeconomic Agenda and Hopes'. According to the 13MP blueprint, ongoing fiscal consolidation efforts are expected to narrow the fiscal deficit to below three per cent of gross domestic product (GDP) and keep the federal debt level under 60 per cent of GDP. Commenting on the development allocation for Kota MADANI, Mustazar said the initiative reflects a public-private partnership model. "The government will not spend directly but instead grant concessions to qualified private firms. Hence, not everything announced by the government will involve direct fiscal commitments. "The government will leverage private sector expertise-firms that are more experienced, willing to take risks, and capable of assessing the viability of projects,' he added. 13MP, tabled by the Prime Minister in the Dewan Rakyat, outlines the country's development agenda for 2026-2030, with a total allocation of RM611 billion. - Bernama
Daily Express
22 minutes ago
- Daily Express
Sept 23 mention for Sabah Mineral Licence graft cases
Published on: Tuesday, August 05, 2025 Published on: Tue, Aug 05, 2025 By: Cynthia D Baga Text Size: Andi and Dr Yusof at the court compound on Tuesday. - Cynthia D Baga/Daily Express KOTA KINABALU: The Corruption Special Court set Sept 23 this year for further mention on the cases involving Assemblymen Datuk Andi Muhammad Suryady Bandy, Datuk Yusof Yacob and a businessman charged with corruption over the mineral exploration licences in Sabah. Sessions Court Judge Jason Juga fixed the date for Andi, 44, who is the Industrial Development and Entrepreneurship Assistant Minister, and Sindumin Assemblyman Dr Yusof, 69, bussinessman Datuk Tei Jeinn Cheing, 37, when their cases were brought for mention on Tuesday. Tei was present via Zoom. During the proceedings, the prosecution had served several documents but asked for further pre-trial case management as there are some additional documents to be prepared. Their bail had been extended. * Follow us on our official WhatsApp channel and Telegram for breaking news alerts and key updates! * Do you have access to the Daily Express e-paper and online exclusive news? Check out subscription plans available. Stay up-to-date by following Daily Express's Telegram channel. Daily Express Malaysia
