Malaysia caps key food prices for Xmas

2015-12-14 22:09


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Kuala Lumpur - The prices of some key goods in Malaysia will be capped during the Christmas season to prevent profiteering, the government said on Monday.

The price control scheme will take effect from December 23 to 27, the New Straits Times daily reported, citing Hamzah Zainuddin, the minister for domestic trade, co-operative and consumerism.

"However, businesses are encouraged to abide by the ceiling prices until after Chinese New Year," which falls on February 8, he was quoted as saying.

Malaysia is a Muslim-majority country but some 25 per cent of its 29 million population practise other faiths including Christianity, Hinduism and Buddhism.

"This is a part of continuous efforts to protect consumers from cases of profiteering, especially during the busy holiday period," Hamzah said.

Retailers are required to place special pink-colored price tags on those items under the scheme or action will be taken against them. Enforcement officers will be conducting checks, Hamzah warned.

The government has frequently introduced such price control schemes during major festive seasons.

Read more on:    malaysia

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