Setting up of jihad task force demonstrates govt's deep concern over inflation

Federation of Malaysian Consumers Associations (Fomca) deputy president, Mohd Yusof Abdul Rahman, said that many were unaware of how the government was playing its role in reducing the impact of inflation on the people.

He said the setting up of the special task force was a holistic cross-ministry approach, formulated by the government to ensure that the people have a better understanding of the situation that is plaguing the country.

"I think the action taken by this special task force is similar to the time when we had to address the COVID-19 pandemic. The government makes an announcement every time a meeting is held, to inform the people what action is being taken to address inflation, and the people can also play their role," he told Bernama.

Sharing a similar view, BIMB Securities chief economist, Imran Nurginias, said that the setting up of the special task force will also enable the government to revive the economy by understanding market weaknesses and loopholes.

"This special task force will also listen to the views and grievances of consumers, and inputs from consumer groups," he said.

In the meantime, Imran hoped that the special task force, established on Wednesday, would be able to formulate strategies and coordinate actions to resolve issues related to inflation, especially in controlling the increase in prices of goods more effectively.

He said the matter could be achieved through more precise enforcement in preventing misconduct by traders, and looking at the domino effect due to rising prices of goods, as well as solving the problem of the goods supply chain.

Meanwhile, the Kelab Belia Prihatin Malaysia president, Luqman Hakim Md Zim, urged the team to review targeted subsidies, as done by most developed countries, to reduce the burden on the people.

"I am of the view that the Jihad team needs to review the implementation and allocation of the subsidies, as provided by the government for petrol ... apart from being able to save in government expenditure, it will bring more benefits to the people in this country," he said.

He also suggested that the government create a purchase card, especially for items such as rice, cooking oil, and so on.

He said the purchase card was arguably the best step so that the government could reduce the country's expenditure and instead provide more targeted assistance to those in need.

On Wednesday, the Cabinet meeting reportedly agreed to set up a Special Task Force on Jihad Against Inflation, which has the role of gathering all information from ministries, agencies, and the public, and formulating strategies and coordinating actions to resolve issues relating to inflation, especially in controlling price hikes more efficiently and effectively.