KPDN calls on 10 companies raise prices following diesel subsidy targeting

PUTRAJAYA: Domestic Trade and Cost of Living (KPDN) called 10 companies that issued announcements to raise the prices of their respective goods and services after targeting diesel subsidies that started on June 10.

Berita Harian reported that KPDN minister, Datuk Armizan Mohd Ali, said all 10 companies were called to give an explanation about the appropriateness of the action.

Commenting further, he said written notices under Section 21 of the Price Control and Anti-Profitability Act (AKHAP) 2011 had been given to all the companies involved, with two of them having been called yesterday and the rest to follow.

“All 10 companies will be asked to provide information including documents related to the offering of services or the sale of goods for the purpose of preparing a profit analysis.

“Failure to attend can be penalized under Section 57 of Act 723,” he said in a statement today.

In the meantime, he issued a preliminary investigation card and found that the fle application by four of the 1 companies concerned had been approved, but they still issued notices for the increase in goods and services.

“While the remaining six companies have vehicles that are not included in the list of the Subsidized Diesel Control Scheme (SKDS) 2.0,” he said.

He said, of the 10 companies, each involved the transport and construction materials sectors, while two each covered the food and beverage sector and the machinery rental sector.

The Ministry of Domestic Trade and Cost of Living (KPDN) launched OPS KESAN 2.0 on June 8.

In this regard, Armizan said KPDN warned all parties not to take advantage by raising the prices of goods and services with profit-making elements following the targeting of diesel subsidies implemented by the government.

He said that those who get an opportunity by manipulating prices will be subject to strict action under Act 723 and can be fined up to RM500,000 for corporations or companies, while for individuals can be fined up to RM100,000 or imprisoned for a period not exceeding three years. or both at once.