SEPANG: Close to 25,000 premises have been inspected for price manipulation and profiteering under Op Kesan 2.0 since targeted subsidies for diesel were introduced in June, says Datuk Armizan Mohd Ali.

The operation to curb profiteering and price manipulation started on June 8, two days before the targeted diesel subsidies were enforced. Checks were conducted at 24,666 premises across the country, said the Domestic Trade and Cost of Living Minister.

From the figures, Armizan said 244 notices were issued by the enforcement division of the ministry under the Price Control and Anti-Profiteering Act 2011.

“Of these, 10 investigation papers have been opened and referred to the Deputy Public Prosecutor for the next course of action,” he said yesterday.

From the operations conducted, Armizan shared that 83 public complaints were recorded involving price manipulation for goods and services following the implementation of targeted diesel subsidies on June 10.

He said these figures demonstrated a satisfactory level of compliance among the majority of traders.

“In the first two months of the initial phase of implementing targeted diesel subsidies, the number of cases involving profiteering was small and under control,” he said at a press conference after launching a petrol station by local energy solutions provider company, Five Petroleum Malaysia.

At the event, Armizan launched the opening of Five Petroleum Malaysia’s flagship fuel station, Five KLIA Pit Stop at Downtown KL International Airport.

In another development, Armizan said the ministry had conducted two engagement sessions to gather ideas for Budget 2025 between the Domestic Trade and Cost of Living Ministry and various stakeholders such as the retail sector and consumer groups to discuss issues related to the cost of living.

“Two weeks ago, Prime Minister Datuk Seri Anwar Ibrahim instructed all ministries to hold engagement sessions with their stakeholders to gather input for Budget 2025.

“We conducted two sessions, the latest round being one with the consumer groups yesterday.

“The outcomes have been presented to the Cabinet. Some of the issues raised involve other ministries as well,” he said.

Armizan said the ministry is focusing on issues related to the cost of living, among others, at the dialogue session while aiming to uplift and help the people generate more income.

“It is a two-pronged strategy, in which we must not only focus on dealing with the control of prices and services but also strive to look into the creating and increasing the people’s disposable income,” he added.In an earlier report, Anwar stated that the upcoming Budget would prioritise efforts to address the rising cost of living.

Anwar, who is also the Finance Minister, had instructed policy planners to develop cross-ministry solutions to tackle problems related to cartels, monopolies and the rising prices.

Budget 2025 is expected to be tabled in the Dewan Rakyat on Oct 18.

https://www.thestar.com.my/news/nation/2024/08/07/nearly-25000-premises-checked-for-profiteering