Ministry to intensify efforts to reduce cost of living under 12MP - Nanta

PUTRAJAYA: Existing projects that are proven to reduce people's cost of living will continue to be improved during the implementation of the 12th Malaysia Plan (12MP) to ensure they are channelled to the target groups, besides reducing leakages, says Domestic Trade and Consumer Affairs Minister Datuk Seri Alexander Nanta Linggi.

He said the projects were Community Drumming; Sabah, Sarawak and Labuan Price Standardisation; Controlled Goods and Subsidies covering rice, flour, sugar, cooking oil, LPG and Petroleum.

"The ministry has also begun subsidy rationalisation studies to identify subsidy modules that have an impact and can reach the target groups," he said in a statement today.

Nanta said the National Action Council on Cost of Living (NACCOL) also encouraged the development of people-oriented initiatives and projects that were easy and quick to implement for the well-being of people.

He added the digitalisation initiative under the MyDigital programme for the distribution trade-related services sector, including applications such as EZ Adu, Price Catcher, My Sales Tracker, MyHarga, Spacedeal, ChatbotSara, Enforcement Command Centre, and Retail Sector Digitalisation Initiative (ReDI) would be enhanced under the 12MP.

In order to make a more conducive business environment for the distribution trade sector, Nanta said several relevant legislation would be reviewed and amended to assist the recovery of business entities to allow them to remain competitive, especially in the recovery phase following the COVID-19 pandemic.

Among the laws are the Companies Act 2016, Limited Liability Partnership Act 2012, Direct Sales and Anti-Pyramid Scheme Act 1993, and Regulations under the Franchise Act 1998 as well as laws related to intellectual property.

Nanta said the ministry was committed to further boosting distribution trade-related sectors which included wholesale and retail, hypermarkets and supermarkets, franchise and direct sales business that were consistently among the major contributors to investment in the country's services sector and gross domestic product.

He said the ministry together with the Malaysia Competition Commission (MYCC) would continue to engage with key industry players such as Shoppee, Lazada, Grab, Foodpanda, and AirAsia Food to boost the gig economy under the 12MP.

Meanwhile, he said the Malaysian Intellectual Property Corporation (MyIPO) would intensify efforts to help more youth entrepreneurs to file protection for their intellectual property through trademarks, patents, copyrights and industrial design.

He said MyIPO would also assist Siti Maryam Muzamir, a Year Five pupil of SK Perempuan Methodist in Kuantan to patent her sustainable animal feed made from shrimp shells and seashells known as Yam 2.0.

Maryam won three gold medals at the 6th International Invention Innovation Competition (iCAN 2021) in Toronto, Canada last month.

He said advocacy and promotion programmes would continue to be implemented under the 12MP at all levels, covering schools, universities, consumer associations and the community.

-- BERNAMA