MCO 3: Government to invoke Price Control Scheme, avoid traders from profiteering

The government will implement the maximum price scheme during the period of the Movement Control Order (MCO) to ensure traders would not try to hike price of goods arbitrarily.

Senior Minister (Security Cluster) Datuk Seri Ismail Sabri Yaakob said the scheme was usually implemented during the festive season but the government saw it as necessary to ensure that no one tried to take advantage under the current situation.

"We understand that there may be unscrupulous traders who may take the opportunity to raise prices. Therefore, the Ministerial Special Committee Meeting on the MCO today decided to implement the maximum price control scheme.

“The scheme will usually be implemented during the festive season but we have decided not to wait. With the start of MCO 3 (April 15), the maximum price control scheme must be implemented and the product list will be announced by the Ministry of Domestic Trade and Consumer Affairs (KPDNHEP ),” he said at a daily press conference in Putrajaya today.

Meanwhile, Ismail who is also Defence Minister said KPDNHEP had conducted a special inspection on the entire supply chain – from traders, retailers, wholesalers to manufacturers - to monitor the supply of 25 daily essentials.

He said the monitoring and inspection had found that supply was at a stable level for MCO 3 which would end on April 28.

In addition, the Ministry of Agriculture and Food Industry has also assured that the supply of dry and wet foods was satisfactory.

“There is no need to worry about whether there is enough supply or not as these two ministries have done their inspection and found supplies are sufficient. We hope there would not be panic-buying as everything is sufficient,” he added.