Food traders allowed to increase prices but no profiteering - Rosol

KUCHING: Following the rising prices of raw materials, food traders are allowed to increase their selling prices as long as there is no element of profiteering, Deputy Minister of Domestic Trade and Consumer Affairs (KPDNHEP) Datuk Rosol Wahid said today.

He said there were complaints and grievances from traders who said the prices of food items had to be increased as the costs of raw materials today have skyrocketed.

"Obviously, traders want profits. They (traders) may increase (selling) prices but their profits must not be excesssive.

"We held engagement sessions, and the ministry takes care of the trading aspect as well as consumers. We want traders to do business ethically and we do not want consumers to be deceived,," he told reporters, here, today.

Rosol said this after reviewing the implementation and compliance of the Malaysian Family Maximum Price Scheme (SHMKM) at the Stutong Community Market, here, which began on Dec 7, 2021, and ends Feb 4, this year.

Also present at the event were KPDNHEP enforcement director Azman Adam and Kuching South City Council mayor Datuk Wee Hong Seng.

Meanwhile, on the problem of rising prices of chicken that is expected to be solved once SHMKM ends, Rosol said KPDNHEP and the Agriculture and Food Industries Ministry (MAFI) have issued over 20 approved permits (APs) to balance prices in the market.

With regard to SHMKM, Rosol said the government will reevaluate the prices of goods as well as inflation based on input from the Department of Statistics (DOSM), Finance Ministry, and MAFI before deciding on whether or not to extend the scheme.

-- BERNAMA