PUTRAJAYA, June 14 — Ten companies which announced they were increasing the prices of their goods and services after the targeted diesel subsidy began June 10 were called up to provide justification for their action.
Domestic Trade and Cost of Living Minister Datuk Armizan Mohd Ali said initial investigation found that four companies that had approved fleet card applications were issued notices for increasing prices of goods and services.
"The remaining six companies have vehicles that are not included in the list of Subsidised Diesel Control System (SKDS) 2.0," he said in a statement today.
Armizan said each company will be asked to provide detailed information, including documents related to the services provides or goods being sold, for the purpose of preparing a profitability analysis.
"Failure to do so will be penalised under Section 57 of Act 723 (Price Control and Anti-Profiteering Act 2011),” he said.
Armizan said the 10 companies involved had been given written notices issued under Section 21 of the same Act.
He said the firms comprised three each from the transport, building materials and food and beverage sectors, as well as two companies from the machinery rental sector.
Armizan said two companies were called yesterday and the rest will follow soon.
The action is being taken under the Ops Kesan 2.0, which was launched by the Domestic Trade and Cost of Living Ministry (KPDN) on June 8.
The purpose is to ensure that all price increases under SKDS 2.0 are in compliance with the Price Control and Anti-Profiteering Regulations 2011.
Armizan also warned all parties not to take advantage by raising the prices of goods and services for profit following the implementation of the targeted diesel subsidy by the government.
Any party found to be taking advantage of price manipulation will be subject to strict action under Act 723 and may be fined up to RM500,000 for corporations or companies, and up to RM100,000 for individuals, or imprisonment not exceeding three years or both.
— Bernama
