Wholesale, retail trade rise shows economy is dynamic, progressive, says Armizan


KANGAR: Malaysia’s wholesale and retail trade increased by 5.2% in March of this year, indicating that the domestic economic ecosystem of the country is in a dynamic and progressive state.

Domestic Trade and Cost of Living Minister Datuk Armizan Mohd Ali, stated that the rise also proves that the ministry is on the right track.

"The increase in the percentage of wholesale and retail sales performance signifies that all the actions, monitoring, and enforcement we undertake are on the right track.

"We are not only enforcing existing laws and regulations but we can also see that the market is showing a positive response," he said at the launching of the KPDN Carnival Tour in Perlis on Saturday (May 11) night.

Last Thursday, the Department of Statistics Malaysia stated that wholesale and retail trade increased by 5.2 percent to RM145.7 billion in March this year compared to the same period last year.

Chief statistician Datuk Seri Dr. Mohd Uzir Mahidin stated in a press release that the increase is a result of the retail trade sector‘s hike of 7.1 percent or RM4.2 billion to RM62.8bil.

Armizan also explained that the government's subsidy rationalisation does not mean cutting or abolishing subsidies but rather aimed at ensuring they reach the targeted recipients.

He emphasised that subsidy rationalisation would enable the government to increase enhance cash assistance to the public, and highlighted the importance of ensuring these measures are accompanied by assurances of protection and social support for citizens.

He stated that the KPDN Carnival Tour aims to 'popularise' the ministry's services and role, while also creating opportunities for the public to benefit from the services provided.

The 2024 KPDN Carnival Tour, first held in Perlis, marks the beginning of a series of business development programmes to be held nationwide, including in Kelantan, Sarawak, Perak, Sabah, and Melaka from this month until December. - Bernama

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KPDN , wholesale , retail , economy , subsidy

   

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