KIMANIS: The Domestic Trade and Cost of Living is closely monitoring egg prices and supply following the reduction in subsidies that took effect on Thursday (May 1), says Datuk Armizan Mohd Ali.
The Domestic Trade and Cost of Living Minister said that although the subsidy has been reduced, egg prices are still subject to price controls, and the ministry will not compromise with any party that tries to raise prices arbitrarily.
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"I am not merely expressing hope, but stressing and reminding all parties that they are still bound by the controlled price of eggs in the market, do not raise the price at will.
"Our officers are monitoring the situation together with the Agriculture and Food Security Ministry," he told a press conference after launching RON97 products here Saturday (May 3).
Also present was Petronas Dagangan Bhd chief operating officer Azureen Azita Abdullah.
The government had previously announced the removal of chicken egg price controls, with subsidies reduced from RM0.10 to RM0.05 per egg effective Thursday before complete termination on Aug 1.
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Armizan said the decision to reduce the subsidy was made after lengthy discussions and took into account the risk of rising egg prices as well as the need to ensure continued availability of eggs in the market.
He said the ministry is also carrying out various operations to monitor the prices and supply of goods including eggs, and that the government has set up a special committee to coordinate action to ensure price stability and market availability.
He added that the public is encouraged to use the ministry's various complaint platforms to report any issues concerning the price or supply of eggs or other essential goods in the market, and that the ministry will investigate complaints within 24 hours.
"The Domestic Trade and Cost of Living Ministry is committed to tracing each price-related complaint within 24 hours, so submit your report on the platform and we will take immediate action if any party raises egg prices," he said. — Bernama
