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Fomca: Issue detailed list

Publish date: Sat, 15 Jun 2024, 08:53 AM

PETALING JAYA: Clearly indicate which goods and services will see price increases due to the diesel subsidy rationalisation, the Federation of Malaysian Consumers Associations (Fomca) has urged the government.

While backing the policy, its chief executive officer Dr Saravanan Thambirajah said the Domestic Trade and Cost of Living Ministry must come up with a list indicating what products or services will or will not be affected by the policy.

“This will be good for consumers. Currently, the public already perceives that there will be no price increase following the government’s assurance, but that doesn’t reflect what’s happening on the ground,” he said when contacted.

Noting that some businesses are already marking up prices, Saravanan said this has to be investigated by the ministry’s enforcement unit.

He also called on the government to improve how subsidies are delivered to vulnerable groups.

“Many businesses and consumers are unsure if they are eligible. Stakeholder engagement among industries is very important.

“Please get in touch with them and make sure there are no market disruptions,” he added.

Earlier yesterday, 10 companies were given written notices for increasing the price of goods and services since the targeted diesel subsidy came into effect on Monday.

The notice was issued under Section 21 of the Price Control and Anti-Profiteering Act 2011.

Domestic Trade and Cost of Living Minister Datuk Armizan Mohd Ali said they comprised three transport, three construction, two beverage and two machinery rental companies.

“They will be asked to explain their price hikes on goods and services,” he said in a statement.

Armizan said initial investigations revealed four of the companies had approval for the fleet card and were given a notice for increasing the prices of goods and services.

“Six others had vehicles that were not registered under the Subsidised Diesel Regulation Scheme (SKDS) 2.0.

“Each company will be called to provide detailed information and documentation on their services and sales of goods for a profiteering analysis.

“A penalty can be imposed on those who fail to be present,” Armizan said.

He said his ministry launched Ops Kesan 2.0 on June 8 to curb profiteering and price manipulation following the rationalisation exercise.

“Offences can bring a fine of up to RM500,000 for corporations and companies, and RM100,000 for individuals, as well as prison term of not more than three years or both,” said Armizan.

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