Prices of goods up by 15% after GST

KOTA DAMANSARA, 6 May: The Federation of Malaysian Consumers Associations (Fomca) admitted that there has been an increase in prices of basic necessities after the implementation of the goods and services tax (GST).

The Chief Executive Officer, Datuk Paul Selvaraj, said that there are differences in the prices of fresh and processed food which recorded an increase based on the GST and the general market.

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He said based on monitoring, there has been an increase of up to 15 percent on certain types of goods.

“The GST is an important factor in the increase in price of goods, but it is also caused by other factors that affect it, particularly in the general market. For example, price increase caused by foreign exchange will cause prices to go up by up to 15 percent if the goods are imported.

“However, the decline in prices of some types of goods have also taken place,” he said during a press conference after conducting the second series of GST monitoring at the Giant Supermarket today.

A total of 300 types of goods have been monitored by Fomca in the second session after the first session of monitoring was carried out on April 8.

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The monitoring is done by making price comparisons based on the published guide by the Ministry of Domestic Trade, Cooperatives and Consumer Affairs (KPDNKK).

In relation to that, Pauh advised consumers to make price comparisons at all supermarkets to get the best value in purchasing essential goods.

He said that consumers are also advised to report to the authorities if they find an unreasonable increase in the price of any item in the market.

“Consumers must be smart in making choices and can compare prices with various companies or products to get the best value for the household,” he said.

NS

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