PETALING JAYA: The monitoring of the prices of 13 items listed under the price control scheme in conjunction with Chinese New Year will begin tomorrow until Feb 14, said Domestic Trade, Cooperatives and Consumerism
Minister Datuk Hamzah Zainuddin.
He said the enforcement operation would be held under the Price Control and Anti-Profiteering Act 2011.
“We have received complaints that traders do not put special pink tags on controlled items to distinguish them from other items, but there are also some traders who have already installed the tags even before the scheme started,” he said.
Hamzah told this to reporters after attending the launching of the 60th Anniversary Celebration of the Co-Operative College and Excellent Service Awards 2015.
On Jan 27, the ministry has listed 13 items under the price control scheme in conjunction with Chinese New Year including live chicken, standard chicken, super chicken and chicken eggs Grade A, B, and C.
The scheme provides for a maximum sentence of RM100,000 fine and or maximum jail of three years or both or compound up to RM50,000 for individuals who fail to abide by the prices set.
Companies face a fine of RM500,000 or compound of up to RM250,000 if found guilty.
Traders who failed to put up the pink price tags would also be slapped with a fine of up to RM10,000 or compound up to RM5,000 for individuals or a maximum fine of RM20,000 or compound of RM10,000 for companies.
Hamzah said the ministry through its 2,300 enforcers would monitor the price of controlled items nationwide.- BERNAMA