Probe into price hikes

Business as usual: Residents shopping for daily necessities at the Ampangan Farmers’ Market in Seremban. — Bernama

PETALING JAYA: An immediate investigation by the Domestic Trade and Cost of Living Ministry (KPDN) will be taken to address issues on price hike by several sectors which are being circulated on social media, says Datuk Armizan Ali.

Domestic Trade and Costs of Living Minister said his ministry is concerned over recent statements from various industry players about impending price hikes following the targeted diesel subsidy that began on Monday.

He added that to address these concerns, KPDN launched Ops Kesan 2.0 last Saturday.

“This operation aims to closely monitor and enforce compliance with the Price Control and Anti-Profiteering Act 2011 in response to complaints lodged through designated platforms,” he said in a statement yesterday.

To address statements by some companies that have gone viral yesterday, Armizan said investigations will focus on two main aspects.

“For sectors not included in the 33 types of public transport and goods covered under the Subsidised Diesel Control System (SKDS) such as vehicle towing services and the delivery of construction materials, KPDN will issue notices to the relevant parties.

“These notices, administered under Section 21 of the Price Control and Anti-Profiteering Act 2011, are intended to prevent any unwarranted price adjustments that could involve profiteering,” he added.

Meanwhile, Armizan said industrial sectors which include construction, which are not eligible for subsidised diesel, would be scrutinised.

“This will include probing into the possibility that these sectors might have illegally sourced subsidised diesel in the past,” he said.

Some screenshots of price increase notices by companies across various sectors also began circulating over social media yesterday.

In a notice by several concrete suppliers, it read that the prices of its products had increased beginning Monday.

A notice by a building materials and hardware products supplier said its prices would increase by 25% beginning Monday as well.