Hoarding goods for price to increase, Federal Government should act

SHAH ALAM, 4 June: The Federal Government should curb the hording of basic goods by traders ahead of the Ramadan and festive season.

The Member of Parliament for Temerloh, Nasaruddin Hassan Tantawi, said that although the Ministry of Domestic Trade, Cooperatives and Consumerism (KPDNKK) has issued many statements, it is not a guarantee.


He said that the government should take action against this move because it causes traders to take advantage and raise prices at will.

“Some news reports on the issue involve basic goods like sugar, flour and cooking oil in the market.

“But it is different with what is happening in Kedah, when it was reported that since last week, consumers are faced with a shortage of cooking oil and wheat flour, as well as the increase in price of those goods,” he said in a statement.

Nasaruddin said that hoarding and selling at a high price to earn a profit is seen as a bad an unethical business practice.

“The impact of this particular act by wholesalers force retailers to limit sale to buyers and some of them take this opportunity to increase prices.

“Ultimately, the consumer experiences a negative impact due to lack of daily necessities, coupled with prices that continue to soar,” he said.

In relation to that, he said that he hopes that the government will take proactive moved to curb this menace immediately before the Ramadan and the coming Hari Raya festive season.

“Wholesalers and retailers with potential of this misconduct should be monitored by the authorities and if confirmed for carrying out such act, the move to revoke their business licence should be done as a lesson to other traders,” he said.

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