PUTRAJAYA: The government has agreed to maintain the maximum retail price of bottled pure palm cooking oil to ease the people’s burden and deal with the issue of price increase, says the Domestic Trade and Cost of Living Ministry (KPDN).
In a statement on Friday (Dec 8), the ministry said the price of a one kg bottled cooking oil remained at RM6.90, for the 2kg bottle at RM13.30, 3kg (RM19.60) and 5kg (RM30. 90) until a date to be announced later.
The ministry said several proactive measures have been taken by the Madani government to help consumers from being affected by any issue of unreasonable price increase.
"They include maintaining the maximum retail price for bottled pure cooking oil through the Price Control and Anti-Profiteering (Determination of Maximum Price) Order (No.13) 2023,” it said.
Parties found selling above the maximum price can be taken action under the Price Control and Anti-profiteering Act 2011, which provides a fine of up to RM100,000 or jail for not more than three years or both, while companies can be fined up to RM500,000, upon conviction. - Bernama