PUTRAJAYA, Oct 8 – Domestic Trade, Cooperatives and Consumerism Minister Datuk Hamzah Zainuddin on Thursday demanded that traders hold to their earlier statement that the price of fuel is not a factor to determine the price of goods and reminded them that higher fuel prices cannot be used to justify raising the prices of goods.
He said some traders have been citing the higher fuel prices as an excuse to raise the prices of goods but refused to reduce them when the prices came down. He said in September the price of fuel fell further for two consecutive months, so he is asking the traders to reduce the price of goods.
“The answers they gave to me was that fuel is not the main factor to determine the price of goods. We will hold them to the statement on this matter,” he told a media conference after attending the ministry’s monthly assembly and presented appointment letters to 378 enforcement officers here.
The price of RON95 and RON97 petrol and diesel rose by 10 sen in October compared to September, to RM2.05, RM2.45 and RM1.90 respectively. Hamzah said his ministry’s enforcement operations throughout the country will be intensified to ensure no traders raise prices of goods following a rise in the price fuel for October. He said that the traders want to raise prices on the excuse of higher fuel prices but when asked to reduce prices.
He said that the trader said it is not due to fuel price due to this is not right. On the tabling of Budget 2016 by the Prime Minister Datuk Seri Najib Tun Razak on Oct 23, Hamzah said many parties have made the assumption that the Consumer Price Index (CPI) will rise. In this regard, he said his ministry will analyse in detail after the presentation to ensure the CPI in the country remained stable and take measures to realise them.
Hamzah in his speech earlier said the allegations of a handful of people that Malaysia will be colonised by world super powers if it signs the Trans-Pacific Partnership Agreement (TPPA) is incorrect. He said what the government made is in the interest of the people, they will not sell out the country, but they want to empower the nation.
On Wednesday, International Trade and Industry Minister Datuk Seri Mustapa Mohamed said even though negotiations for the TPPA had been finalised, Malaysia had yet to sign the TPPA. Negotiations on the TPPA were launched in 2005 involving 12 nations namely Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, US and Vietnam.
