Latest news with #PriceControlandAnti-ProfiteeringAct
The Star
07-08-2025
- Business
- The Star
Egg prices steady after subsidy removal
Big and small: A shopkeeper showing AA (left) and E grade eggs at wholesale shop in Rawang. — FAIHAN GHANI/The Star THE withdrawal of government subsidies for eggs and chicken has not disrupted supply or led to price increases. Deputy Domestic Trade and Cost of Living Minister Datuk Fuziah Salleh said the decision to remove the egg subsidy with effect from Aug 1 has shown positive results. 'When the egg subsidy was removed, we found that there were no issues with supply or prices,' she said. Citing an earlier example, Fuziah said similar action was taken with chicken in November 2023, when subsidies were ended and the ceiling price of RM9.40 lifted. 'Before that, we struggled to control chicken prices, even with subsidies and price caps in place. Consumers still had to pay extra, such as for cutting charges. 'But after the subsidy was removed, we tightened monitoring across the supply chain – from production costs and raw materials to distribution and retail. 'We recorded chicken prices daily to ensure the move was working,' she said. As a result, she said that chicken prices have since stabilised, with some selling at lower prices than before. Fuziah said the ministry has the authority under various laws – including the Price Control and Anti-Profiteering Act, Supply Control Act and the Competition Act – to monitor and control supply and pricing at every level of the supply chain. She was responding to Dr Taufiq Johari (PH–Sungai Petani), who asked how the National Action Council on Cost of Living (NACCOL) ensured that government interventions truly benefited the people. 'We want to show that our policies are working and having real impact on the ground,' she said. The government officially discontinued the egg subsidy on Aug 1, after spending around RM2.5bil since February 2022 to support the industry. These subsidies were introduced in response to the global disruptions caused by the Covid-19 pandemic and the Russia-Ukraine war, which pushed up prices of essential feed ingredients like soybean and corn. The financial aid aimed to help local egg producers manage higher input costs, prevent supply shortages and shield consumers from drastic price hikes. Fuziah said following three NACCOL meetings this year, several cost of living intervention measures have been implemented including in the health sector, requiring all types of medicines sold or supplied in community pharmacies and private health facilities to have price markings from Aug 1. 'Based on the outcomes of NACCOL meetings and development of the Cost of Living and Decent Basic Living Expenditure Indicator this year, we have begun advocacy processes for the public. 'Additionally, RM25mil has been allocated to implement the Madani Agro Sales,' she added.
The Star
06-08-2025
- Business
- The Star
Egg prices, supply stable after subsidies ended, says Fuziah
KUALA LUMPUR: The withdrawal of government subsidies for eggs and chicken has not disrupted supply or led to price increases, says Datuk Fuziah Salleh. The Deputy Domestic Trade and Cost of Living Minister said the decision to remove the egg subsidy, which took effect on Aug 1, has shown positive results. 'When the egg subsidy was removed, we found that there were no issues with supply or prices,' she said in Parliament on Wednesday (Aug 6). Citing an earlier example, Fuziah said similar action was taken with chicken in November 2023, when subsidies were ended and the price ceiling of RM9.40 was lifted. 'Before that, we struggled to control chicken prices, even with subsidies and price caps in place. Consumers still had to pay extra, such as for cutting charges. 'But after the subsidy was removed, we tightened monitoring across the supply chain — from production costs and raw materials to distribution and retail. We recorded chicken prices daily to ensure the move was working,' she said. As a result, she noted that chicken prices have since stabilised, with some selling at lower prices than before. Fuziah said the ministry has the authority under various laws, including the Price Control and Anti-Profiteering Act, the Supply Control Act, and the Competition Act, to monitor and control supply and pricing at every level of the supply chain. She was responding to Dr Taufiq Johari (PH–Sungai Petani), who had asked how the National Action Council on Cost of Living (Naccol) ensures that government interventions truly benefit the people. 'We want to show that our policies are working and having a real impact on the ground,' she said. The government officially discontinued the egg subsidy on Aug 1, after spending around RM2.5bil since February 2022 to support the industry. These subsidies were introduced in response to the global disruptions caused by the Covid-19 pandemic and the Russia-Ukraine war, which pushed up the prices of essential feed ingredients like soybeans and corn. The financial aid aimed to help local egg producers manage higher input costs, prevent supply shortages, and shield consumers from drastic price hikes.
The Sun
09-07-2025
- Business
- The Sun
KPDN inspects 1,698 items in Ops Kesan 4.0 price check sweep
PETALING JAYA: A total of 1,698 stock keeping units (SKU) across 375 business premises were inspected nationwide under Ops Kesan 4.0 between July 1 and July 8, according to the Domestic Trade and Cost of Living Ministry (KPDN). The ministry, in its post on X said the enforcement operation is part of a nationwide effort to ensure businesses do not exploit recent developments, including Sales and Service Tax (SST) adjustments, to unjustifiably raise prices. The operation, led by KPDN's enfrocement division, targets profiteering activities by monitoring the supply chain and retail pricing mechanisms to ensure compliance with Price Control and Anti-Profiteering Act (AKHAP) 2011. The inspection visit to Pasar Borong Selangor in Puchong was led by the ministry's enforcement division deputy director-general (Operations) Shamsul Nizam Khalil as part of initiative by the division to ensure retailers must not use SST implementation as an excuse to trigger unreasonable price hikes. He stressed that KPDN will continue to take stern action against any party found increasing prices without a valid justification.
Daily Express
03-07-2025
- Business
- Daily Express
Ramly Food to delay price hike, says Armizan
Published on: Thursday, July 03, 2025 Published on: Thu, Jul 03, 2025 By: FMT Reporters Text Size: Domestic trade and cost of living minister Armizan Mohd Ali said they had summoned frozen food company Ramly Food for an explanation following public concern over the price hike. PETALING JAYA: Frozen food company Ramly Food has agreed to temporarily postpone a planned price hike for its products, says domestic trade and cost of living minister Armizan Mohd Ali. Armizan said his ministry summoned the company following public concern, and a meeting was held last Tuesday to clarify the situation, Astro Awani reported. 'The ministry has issued a 'Goods Information Confirmation Notice' under Section 21 of the Price Control and Anti-Profiteering Act to obtain justification for the planned price increase,' he was quoted as saying at a press conference today. The issue gained traction after a vendor notice dated April 14 from Ramly Food Marketing Sdn Bhd began circulating online, stating that product prices would go up starting next Monday. The notice attributed the increase to rising raw material costs. In a separate case, Armizan said Sim Yang Hok Industries Sdn Bhd, which recently went viral over claims it had increased the price of ice products from RM3.70 to RM6, has denied the allegation. He said the company clarified that no official notice was issued and that it had lodged a police report over the viral claims. 'So far, both companies have stated that any proposed price increase is due to operating costs and not the implementation of the sales and service tax (SST),' he said. He also advised companies to consult the ministry before implementing any price adjustments to ensure they do not violate anti-profiteering laws. The SST expansion, which took effect on Tuesday, maintains a zero rate for essential goods while imposing a 5% to 10% tax on non-essential items. * 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
New Straits Times
03-07-2025
- Business
- New Straits Times
Ice maker defers price hike from RM3.70 to RM6 per block
PUTRAJAYA: A company producing ice and another supplying frozen food have deferred the proposed price increases of their products after a discussion with the Domestic Trade and Cost of Living Ministry. Minister Datuk Armizan Mohd Ali said the ministry had advised both companies during a meeting with their representatives on Monday. He said the meeting was held to clarify viral claims on social media that the companies planned to raise prices allegedly due to the broadened scope of the Sales and Service Tax (SST). "At this point, both companies have decided to postpone their initial plans to implement price increases in July. They will announce a new date after thoroughly reviewing the situation," he said. "During the discussion on July 1, neither company cited SST as the cause. Instead, they pointed to rising operational costs as the main factor," he said during a press conference after officiating in the ministry's 53rd enforcement appreciation ceremony here today. Armizan added that should the companies wish to go ahead with their price revisions, they would be required to provide detailed justification in accordance with Section 21 of the Price Control and Anti-Profiteering Act (AKHAP) 2011. He also encouraged the public to continue reporting any businesses found to be unjustifiably increasing prices. Previously, a social media post had claimed that an ice manufacturer intended to raise the price of its block of ice from RM3.70 to RM6, which is a 62 per cent hike. A frozen food company was also said to be planning a 10 per cent price increase on its products beginning this month.
