PETALING JAYA: A total of 10 companies have been given written notice by the Domestic Trade and Cost of Living Ministry for increasing the prices of goods and services since the targeted diesel subsidy scheme came into effect on June 10.

The notice was issued under Section 21 of the Price Control and Anti-Profiteering Act 2011 (AKHAP 2011).

"The identified companies will be asked to explain their price hikes on goods and services," said Minister Datuk Armizan Mohd Ali in a statement on Friday (June 14).

He said the 10 companies comprised three transport companies, three construction companies, two beverage companies and two machinery rental companies.

"Two of the companies were summoned on Thursday (June 13), while the others will follow according to schedule," he added.

Armizan said an initial investigation showed four of the companies had approval for the fleet card but were still given notice for increasing the prices of goods and services.

"Six others had vehicles that were not registered under the Subsidised Diesel Control Scheme (SKDS) 2.0.

"Each company will be called to provide detailed information and documentation on their services and sales of goods for a profiteering analysis.

"A penalty can be imposed on those who fail to be present under Section 57 of the Act," Armizan said.

Armizan also mentioned that the Domestic Trade and Cost of Living Ministry launched 'Ops Kesan 2.0' on June 8 to ensure all price increases and charges in the services sector were applied to vehicles that were eligible and legal under SKDS 2.0.

"The ministry is giving a stern warning to all parties not to take advantage by increasing the prices of goods and services with profiteering elements following the implementation of SKDS.

"Such offences under Act 723 can bring a fine of up to RM500,000 for corporations and companies, and RM100,000 for individuals, as well as prison terms of not more than three years or both," added Armizan.

https://www.thestar.com.my/news/nation/2024/06/14/diesel-subsidy-rationalisation-10-companies-hauled-up-for-price-gouging