Latest news with #PriceandSupplyRepositorySystem
Daily Express
5 days ago
- Business
- Daily Express
Centralised price system to boost transparency
Published on: Monday, August 04, 2025 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
New Straits Times
5 days ago
- Business
- New Straits Times
13MP: Ministry to develop price and supply repository system
PENAMPANG: The Domestic Trade and Cost of Living Ministry will develop a Price and Supply Repository System during the 13th Malaysia Plan (13MP). Its minister, Datuk Armizan Mohd Ali, said the system would enable the government to monitor prices and supply comprehensively from producers and wholesalers to retailers and consumers. "With this supply and pricing data chain, the government can monitor more effectively and detect manipulation by middlemen who inflate prices. "The ministry will collaborate with various ministries, including the Economy Ministry and the Finance Ministry," he said. He was speaking to reporters after launching the Madani Nationhood Seminar organised by Akademi Kenegaraan Malaysia (AKM) at the International Technology and Commercial Centre (ITCC) here today. Armizan said the system will not only strengthen the food supply chain but also help detect exactly where price hikes or manipulation occur within the distribution process. At the same time, a study on the factors behind price differences in Sabah, Sarawak and Labuan was launched this year. A separate Price Stability Committee has been established for each state. He said that the committee, co-chaired by himself and Sabah Community Development and People's Well-being Minister, Datuk James Ratib, will evaluate five key items in Sabah, including chicken prices. Armizan also said a preliminary report had already been presented by Universiti Malaysia Sabah (UMS) for Sabah and Labuan, while Universiti Malaysia Sarawak (Unimas) is conducting the study for Sarawak. "UMS has proposed five essential items that can be addressed in the short term to solve the issue. "We will examine their initial findings before proceeding to the second phase of the study," he said. – Bernama
The Sun
5 days ago
- Business
- The Sun
KPDN to launch price and supply monitoring system under 13MP
PENAMPANG: The Domestic Trade and Cost of Living Ministry (KPDN) is set to develop a Price and Supply Repository System during the 13th Malaysia Plan (13MP). This initiative aims to enhance the government's ability to monitor price fluctuations and supply chain activities from producers to consumers. Datuk Armizan Mohd Ali, Minister of KPDN, stated that the system will provide comprehensive data to detect price manipulation by middlemen. 'With this supply and pricing data chain, the government can monitor more effectively and detect manipulation by middlemen who inflate prices,' he said. The ministry will collaborate with other government bodies, including the Economy Ministry and the Finance Ministry, to implement the system. Armizan made the announcement after officiating the MADANI Nationhood Seminar at the International Technology and Commercial Centre (ITCC). The new system is expected to strengthen the food supply chain and pinpoint where price hikes occur within distribution channels. Additionally, a study on price disparities in Sabah, Sarawak, and Labuan has been launched this year, with separate Price Stability Committees established for each state. Armizan revealed that Universiti Malaysia Sabah (UMS) has already submitted a preliminary report for Sabah and Labuan, while Universiti Malaysia Sarawak (UNIMAS) is conducting research for Sarawak. 'UMS has proposed five essential items that can be addressed in the short term to solve the issue,' he said. - Bernama
