The maximum ceiling price for 11 controlled items for Chinese New Year will take effect on Feb 11.
The prices will remain in force for 15 days from that date, Domestic Trade and Consumer Affairs Minister Datuk Shafie Apdal said Wednesday.
For the first time, he said, the maximum prices are fixed for both retail and wholesale transactions to ensure consumers get a fair price and no traders tried to rake it huge profits during the festive period.
“We need to take steps to control prices both at retail and wholesale levels because we cannot determine their profit margin.
“Sometimes wholesalers want more profit and sometimes retailers. To ensure they make a fair profit, we control retail and wholesale prices.
“What’s important is that the consumers benefit from the controlled prices… prices are not too high or too low to the extent of causing supply shortage… we’ll ensure the prices are reasonable,” he told reporters.
The 11 items are live chicken, standard chicken (slaughtered and dressed with shank, head, liver and gizzard), super chicken (slaughtered and dressed without shank, head, liver and gizzard) local beef and imported buffalo meat from India.
Also on the list are Grade A, B and C chicken eggs, imported round cabbages (excluding Beijing cabbage), white pomfret and big white prawns.
Shafie reminded traders to comply with the maximum price ceiling, failing which, harsh action would be taken against them.
He said consumers can lodge reports to his ministry through e-aduan.kpdnhep.gov.my or send a SMS to 32255 or call toll-free number 1-800-886-800 against errant traders.
“Consumers can also go to any nearest offices of the ministry to make reports and action to be taken,” he added.