Cost of living: The policy implementation procedure will be implemented at the end of next January – Salahuddin

Cost of living: The policy implementation procedure will be implemented at the end of next January – Salahuddin

Salahuddin said the government is always committed to helping the people deal with the issue, but every step taken must be ensured not to affect the position of the business and industry ecosystem.

PUTRAJAYA: The Ministry of Domestic Trade and Cost of Living and the Ministry of Economy are detailing a number of quick solution measures in dealing with the cost of living issue including an action plan for cross-ministerial cooperation.

Domestic Trade and Cost of Living Minister Datuk Seri Salahuddin Ayub said the two ministries agreed to establish a joint secretariat which will be a platform at the official level to discuss the role of various agencies in dealing with the cost of living.

“Some policy implementation procedures are also being updated and are expected to be implemented from the end of January next year,” he said in a joint statement with Economy Minister Rafizi Ramli here today.

He said the government is always committed to helping the people deal with the issue, but every step taken needs to be ensured not to affect the position of the business and industry ecosystem which is still in the post-pandemic recovery period of COVID-19.

Rafizi said efforts to control inflation and the cost of living required the cooperation of all relevant parties in the value chain including the government, producers, traders and the people because the issue was not only about cheap prices but also fair prices for producers, traders and consumers.

“The government hopes that the effort will facilitate cost management and further ensure that all savings can be passed on to consumers, further easing the cost of living for Malaysians,” he said.

He said the public is encouraged to strengthen their role as smart consumers by focusing on four steps which are planning expenses and adjusting tendencies if there are substitute goods for goods that have increased in price.

He said users should also always compare prices through the Price Catcher application and buy in the required quantity and not practice panic buying.

According to the statement, the government has taken a number of long-term and short-term actions to deal with the cost of living issue, including maintaining electricity tariffs for domestic, commercial and industrial users in addition to price controls and subsidies for standard chicken and Grade A, B and C eggs until a specified period.

He said the government also decided to import eggs so that the supply from local producers recovers and that Padiberas Nasional Berhad (BERNAS) will allocate RM60 million to rice farmers, RM10 million each for 2022 and RM50 million in 2023.

In addition, the government is detailing the implementation of the 2-tier price for crude palm oil so that the price of bottled pure cooking oil in the domestic market is sold at a lower price to reduce pressure on demand and the use of subsidized cooking oil per kilogram polybag.

asianewstoday.com

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