Govt never issued notification on cooking oil price hike to traders - Hamzah

Domestic Trade, Cooperatives and Consumerism (KPDNKK) Minister Datuk Seri Hamzah Zainudin today denied that the government had issued a notification on the cooking oil price hike to traders prior to implementation of the rationalisation of cooking oil prices.

Hamzah explained this today to correct public perception that traders were hoarding stocks of cooking oil as they had received an early notice from the government.

"I want to correct the misperception on the issue of cooking oil, the allegation that the government had notified the traders about the price hike was incorrect. The government has never issued such notification," he told the Dewan Negara today.

The minister said this in response to Senator Khairiah Mohamed who wanted the government to explain about consumers' complaints that the traders were hoarding cooking oil even before the new price was implemented.

Through the restructuring of the Cooking Oil Stabilisation Scheme (COSS), effective Nov 1, the price of cooking oil in 1kg packets remains at RM2.50 per pack, while cooking oil in bottles would be based on market prices. -- BERNAMA