Maximum price for bottled cooking oil will be based on interests of industry and consumers, says deputy minister

PUTRAJAYA: The gazetting of the maximum retail price of bottled cooking oil will be implemented by taking into account the interests of the industry and the welfare of consumers, says Datuk Rosol Wahid.

"We are doing this to protect the interests of both parties (industry and consumers), we don’t want to pressure the traders and that will spell trouble. At the same time, we don’t want the consumers to be victimised.

"We have to put a balance, traders need to run their business wisely and the consumers must also be smart,” said the Deputy Domestic Trade and Consumer Affairs Minister after the pre-launch of the 2022 Malaysian sale programme’s spend and win lucky draw here.

Yesterday, special task force on inflation chairman Tan Sri Annuar Musa announced that the government will gazette the maximum retail price of bottled cooking oil to ensure that the product will have its maximum price from time to time.

Annuar said the move was deemed necessary after discussions with the industry to lower the price of cooking oil were proven ineffective despite the decline in crude palm oil prices.

On the event, Rosol said the programme, which will run from Aug 1 to 31, offers a Proton X50 car as the grand prize and is expected to attract more than a million entries.

Malaysians aged 18 and above are eligible to participate in the lucky draw and need only to spend a minimum of RM100 in receipt and submit their entries via the MySales Tracker app developed by the ministry. - Bernama