Cartels pushing up prices of goods, says Saifuddin


  • Nation
  • Saturday, 04 May 2019

Compiled by MARTIN CARVALHO, OH ING YEEN and R. ARAVINTHAN  

CARTELS are responsible for pushing up the prices of goods – to even as high as 133% in some cases – before the goods eventually reach consumers, reported Berita Harian.

This was revealed by Domestic Trade and Consumer Affairs Minister Datuk Seri Saifuddin Nasution Ismail in a preliminary report from a study done on the supply chain involving 10 selected imported items.

He said further checks with the related industries showed that the prices of the goods were inflated in comparison to data from the National Cost of Living Action Council.

“The profiteering of these items happens at the import and wholesale stage and goes up to a 133% hike in prices and consumers have no alternative.

“The items are 100% imported and not even one is produced locally,” he added.

Saifuddin said more information was needed before any action could be taken against the suspected cartels.

The ministry, he said, might make public any information on such cartels to make consumers aware of their identity and how they operate.

 

> Kosmo! reported that a man from Arau, Perlis, accidentally burned down his family home on Wednesday night as he tried to chase away a snake hiding under his bed.

House owner Mohd Suhaimi Ahmad, 49, said he had gone out with his wife to a nearby supermarket and left their 30-year-old son alone at home.

“My son told me that he spotted a snake going into his room. He then burned some newspapers to chase the snake away.

“However, the fire spread to the mattress, resulting in a large fire,” he said after the fire in Kampung Chemumar Tengah.

Mohd Suhaimi said the family lost about RM100,000 in the fire which started at about 10pm.

The family were left with only their Honda Civic and two motorcycles.

The above articles are compiled from the vernacular newspapers (Bahasa Malaysia, Chinese and Tamil dailies). As such, stories are grouped according to the respective language/medium. Where a paragraph begins with a >, it denotes a separate news item.


   

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