Nationwide sales

Govt takes the lead to curb rising prices of essentials

KUALA LUMPUR: As natural calamities and global political unrest continue to wreak havoc on prices of essentials, the government has intervened to ease the people’s burden.

It is taking the lead to organise a unified nationwide sales to slash prices of goods and services from June 15 to Aug 31.

The pilot initiative is engineered with the help of at least 50 industry players. Domestic Trade, Cooperatives and Consumerism Minister Datuk Seri Ismail Sabri Yaakob announced the “Unified Malaysia Sales” (UMS) after launching Tesco’s “Price Cut” campaign at its Mutiara Damansara store yesterday.
He said the UMS was conceptualised in line with the National Key Economic Area’s entry point projects.

“We will coordinate with all participants covering wholesalers, retailers and service industry players, such as hotels and restaurants. “We are fine-tuning the mechanism for implementation, including prices. In a nutshell, prices of essentials will be brought down to reduce the pinch on the people.” Sabri said the government had to take the initiative to address the problem of soaring prices of goods and services sparked by rising crude oil prices and inflation.

“It is a global economic problem caused by complex developments in politics and natural disasters.
We will see how this pilot project works out. “If effective, we will make it an annual affair or whenever the need arises.” Sabri also reminded wholesalers and retailers to adhere to the Trade Descriptions (Cheap Sale Price) Regulations 1997 and Trade Descriptions Act 1972.

“They must seek approval from the ministry if they want to reduce the prices of their products in sales campaigns,” he said, adding that the ministry would continue to monitor such sales to ensure they were genuine.

By Dharshini Balan and Ling Poh Lean
news@nst.com.my