KPDN vows strict action on unreasonable price hikes, using Price Control Act to ensure stability of essential goods and supply chains.
PUTRAJAYA: The Domestic Trade and Cost of Living Ministry (KPDN) is intensifying enforcement against price profiteering. Deputy Minister Datuk Dr Fuziah Salleh warned that no compromise will be given to traders taking advantage of global economic uncertainties.
The ministry can issue a Section 21 Notice to demand explanations on input costs and profit margins for any unreasonable price increases. “Any party found to be taking advantage of the current situation will face strict action in accordance with the provisions of the law,” Fuziah stated.
She acknowledged economists’ views on rising input costs for items like fertiliser and logistics potentially pressuring food prices. Geopolitical uncertainties may also affect inflation rates.
However, current domestic monitoring shows prices of essential goods remain under control. KPDN has not received reports or detected unexpected price hikes following the conflict in West Asia.
Close monitoring is conducted by over 2,400 enforcement personnel and 850 price monitoring officers nationwide. They have found that the prices of basic necessities remain stable for now.
KPDN is also working closely with the Agriculture and Food Security Ministry to ensure food supply chain stability. The collaboration aims to prevent any excessive pass-through of increased input costs to consumers.
The government is intensifying various mitigation initiatives to help the public. This includes the Rahmah MADANI sales programme, which offers essential goods at 10% to 30% lower than market rates.
Fuziah encouraged the public to channel official complaints to KPDN if they detect unreasonable price increases. This will allow investigations to be initiated promptly.
