New LPG Prices To Be Announced Tomorrow

New LPG Prices To Be Announced Tomorrow
KUALA PILAH, March 8 (Bernama) — The new prices for liquefied petroleum gas (LPG) will be announced at the National Economic Council meeting to be chaired by Prime Minister Datuk Seri Najib Tun Razak tomorrow.

Domestic Trade, Cooperatives and Consumerism Minister Datuk Seri Hasan Malek said he will table his ministry’s proposed prices at the meeting.

“We have already met interested parties in the LPG industry, we have met two or three times but no decision has been made on the new LPG prices due to technical problems and because we are putting the people’s best interests first.

“We acknowledge that for the last 16 years the LPG prices have never been reviewed, so we had fresh discussions recently to enable the LPG industry to continue to grow,” he told reporters after opening the annual general meeting of Koperasi Harapan Baru Kuala Pilah Bhd here today.

Hasan said the new LPG prices will take into account the government’s subsidy amount, proposals from the public, and the people’s best interests.

The meeting tomorrow afternoon will decide whether the new LPG prices will be higher or lower than currently (a 14kg cylinder sells for RM26.60), and will be announced once a decision has been made, he said.

Meanwhile, he said his ministry targets to set up 16,000 cooperatives nationwide by 2020, while at the same time cooperatives’ activities will be diversified and their membership expanded to a wider section of society.

“We hope at least 50 per cent of adults will become members, and by 2020 cooperatives are expected to become competitive entities in the open market.

“This means cooperatives will become business entities that are productive, efficient and competitive as well as capable of contributing significantly to the nation’s output and development,” he said.

Records show as of June 30, 2014, there were 11,450 cooperatives nationwide with 7.2 million members, assets worth RM112.5 billion and revenue of RM17.4 billion.



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