5 November 2007

KUALA LUMPUR: The price rise in commodities is a world phenomenon beyond the Government�s control, said Domestic Trade and Consumer Affairs Minister Datuk Shafie Apdal. �

However, he said, the Government had been taking proactive steps to contain the situation to ensure that the people would not face problems coping with rising prices.�

�We do not want people to suffer. That�s why we are doing our best to overcome the problem,� he said.�

He said the ministry was conducting meetings and discussions with the business community to ensure that it did not increase prices excessively. �

�We ask them not to make excessive profits but make reasonable adjustments so that it wouldn�t be a loss for them because they are not there to make losses,� he said, adding that he had also instructed his officers to take stern action against those who increased their prices ridiculously.�

He said it was tough for the business community because it was also importing materials from abroad, which were costlier than before. �

�We cannot be pressuring them all the while when we know that the price has gone up by 60% to 80%,� he said.�

Shafie said awareness campaigns had also been organised to encourage the public to be smarter consumers. �

�My advice is to buy things that are necessities and be selective when purchasing goods,� he added. �

He said it was important for consumers to understand the concept of energy-saving. �

�If there is no need to switch on the light, don�t do it, and it is the same for travelling. �

�In many countries, people are encouraged to carpool and use public transport,�� he said. �

On the government�s subsidy, he said it was spending about RM15mil a year on cooking oil while RM10.6bil was spent on the subsidy for gas, oil and petrol so far this year. �

�Looking at the increase in petrol prices, the figure will easily shoot up to RM15bil by year-end,� he said, referring to the subsidy. �

Crude oil is currently selling at US$92 (RM307) per barrel, but the Government has not increased the retail price of petrol.�

The world prices of steel, sugar and wheat have also shot up.�

Deputy Domestic Trade and Consumer Affairs Minister Datuk S. Veerasingam said the local prices of goods were based according to global market trends.�

�Comparatively, the prices of Malaysia�s essential goods and services are one of the lowest in the region,�� he said. �