Register with SSM to qualify for targeted cooking oil subsidy, Fuziah tells petty traders

KUANTAN: Petty traders are urged to register their business with the Companies Commission of Malaysia (SSM) to qualify for targeted cooking oil subsidy once the initiative is implemented.

Deputy Domestic Trade and Cost of Living Minister Fuziah Salleh said this is to ensure that only those who are eligible would benefit from the initiative.

"This will be one of the conditions because we need to confirm that they are involved in food-related business.

"We need to have a mechanism or system for giving out subsidies because the government must ensure there is no leakage apart from helping the needy,” she told reporters after launching the Pahang-level Entrepreneur Mentoring Programme 2023 organised by SSM here today (May 18).

Fuziah said the Domestic Trade and Cost of Living Ministry is engaging with several parties before finalising the method for implementing targeted subsidies.

"There are many subsidies that are being managed. The ministry is now working with MOF (Finance Ministry) to look at leakage issues, and one of our main focuses is on diesel subsidies and some others including cooking oil... we need to see how we want to implement this,” she said.

In this regard, Fuziah hopes traders will take advantage of the Free Business Registration Scheme (SPPP) introduced by SSM for the B40 group, full-time tertiary students and persons with disabilities.

She also said SSM still has RM6mil of funds left to implement the scheme, and as of April 30, 65,755 entrepreneurs have registered under SPPP.

Asked about the scalping of Coldplay concert tickets, Fuziah said action could be taken under the Price Control and Anti-Profiteering Act 2011.

Coldplay’s Music of The Spheres World Tour series concert is scheduled for Nov 22 at the Bukit Jalil National Stadium, marking the band’s first-ever concert in Malaysia. - Bernama