PUTRAJAYA: The Domestic Trade and Cost of Living Ministry will conduct Ops Kesan 6.0 from June 1 to Aug 31 to curb profiteering amid the increase in world crude oil prices resulting from the global supply crisis.
The ministry's enforcement director-general Datuk Azman Adam said the operation was aimed at ensuring traders do not take advantage of rising costs of raw materials, operations and business to increase prices unreasonably.
He said Ops Kesan 6.0 would also be conducted in anticipation of the gradual impact of the global supply crisis on supply chains, delivery costs and the prices of essential goods in the country.
"This proactive measure was taken to monitor and ensure that traders do not take advantage of rising raw material, operational or business costs to earn unreasonable profits,” he said in a statement on Saturday (May 30).
Azman said the enforcement action was carried out in accordance with the Price Control and Anti-Profiteering Act (AKHAP) 2011 (Act 723), as well as the Price Control and Anti-Profiteering (Mechanism to Determine Unreasonably High Profit) Regulations 2018.
He said the operation would use existing data collected regularly since the start of the West Asia crisis, with inspections covering the full supply chain from manufacturers, breeders and farmers to distributors, wholesalers and retailers.
Azman said focus would be on several main sectors, including the petrochemical sector involving packaging and plastics, the agricultural sector, the livestock sector as well as the transport sector, particularly logistics delivery charges.
He said proactive inspections of other sectors would be carried out based on complaints received.
"During the implementation of Ops Kesan 6.0, KPDN enforcement officers nationwide will issue Goods Information Verification Notices under Section 21 of Act 723 to inspected premises to obtain detailed information on selling prices and operating costs,” he said.
Azman stressed that strict action would be taken against traders who fail to comply with or respond to the notice, as well as those found to have submitted false information.
"If the initial analysis shows an increase in the current profit percentage exceeding that of the previous year, and and further investigation confirms profiteering, legal action will be taken under Section 14(1) of the AKHAP 2011,” he said.
For companies, a fine of up to RM500,000 may be imposed for a first offence and a maximum of RM1 million for a second or subsequent offence.
As for individuals or non-corporate organisations, the first offence carries a fine not exceeding RM100,000 or imprisonment of up to three years, or both.
For a second or subsequent offence, individuals may be fined not exceeding RM250,000 or imprisoned for up to five years, or both. - Bernama
