Emulate Mydin, Minister Urges Other Businesses

Emulate Mydin, Minister Urges Other Businesses

KUALA LUMPUR, March 30 (Bernama) — The domestic trade, cooperatives and consumerism ministry has urged more businesses to emulate Mydin hypermarket which has decided to absorb the six per cent Goods and Services Tax (GST).

In welcoming Mydin’s move, minister, Datuk Seri Hasan Malek said it helped make the government’s efforts to strengthen the national economy a success.

“We welcome traders who think of the nation’s interests above theirs. Hopefully, this will be emulated by other traders.

“To me, the GST is really for the people’s benefit and to strengthen the economy,” he told reporters at the Parliament lobby here Monday.

Yesterday, Deputy Finance Minister Datuk Ahmad Maslan uploaded Mydin’s advertisement on his Twitter account on voluntarily absorbing the GST, once imposed this Wednesday.

On the possibility of other companies following Mydin’s move, Hasan said he preferred the companies to announce their move themselves.

He said in a meeting between the ministry and industry representatives recently, it was agreed the GST would not be used as an excuse to manipulate prices and increase the net profit margin between Jan 2, 2015 and June 30, 2016.

He said the industry representatives included those from the Federation of Malaysian Manufacturers (FMM), Petroleum Dealers Association of Malaysia (PDAM) and the Malaysian Retailers Association (MRA).

“This is very encouraging as it shows support for the GST,” he said.

On complaints from consumers over the lack of essential items in the market, Hasan advised them to report the matter immediately to the ministry at toll-free number 1-800-886-800.

Hasan also said the MyKira GST application introduced by the ministry would also help the public monitor the price of goods after the tax was imposed.

“We will also launch the Anti-Profiteering Mobile Centre this afternoon to make it easy for the media and public to obtain the latest information on complaints and action taken by the ministry against traders who abuse the situation.”

— BERNAMA