Prices of imported goods may go up

  • Nation
  • Saturday, 08 Nov 2003

PENANG: The Domestic Trade and Consumer Affairs Ministry is worried that the prices of imported goods will increase as the US dollar has depreciated some 20% in the past two months. 

The ministry’s parliamentary secretary Wong Kam Hoong said that as the ringgit was pegged to the US dollar, other major currencies had risen against the ringgit.  

Citing as examples the higher exchange rate for the Australian dollar and the euro, he urged importers and distributors to try and absorb the higher costs and not pass them on to consumers.  

“It is now still under control but we will watch the prices closely,” he said after presenting RM7,000 to Chung Ling (Private) High School yesterday. 

On another matter, Wong advised parents to keep an eye on their children during the school holidays and not allow them to spend their time in cybercafes where they could surf pornographic and gambling websites. 

He advised teenagers to look for legitimate jobs and not resort to selling pirated video compact discs just to earn a quick buck. 

Earlier, Wong said the RM7,000 allocation was from his Bayan Baru constituency fund. 

Present were the school board’s vice-chairman Datuk Ong Peng Yeow, secretary Datuk Foo Yew Fong, school principal Tan Kim Swee and SM Chung Ling principal Teh Kwan Liek.  

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