July 26, 2022
KUALA LUMPUR – The maximum ceiling price for bottled pure cooking oil is set to be gazetted soon, says Tan Sri Annuar Musa.
The chairman of the Special Task Force Against Inflation said there were enough provisions under current laws to allow the Domestic Trade and Consumer Affairs Ministry to gazette the ceiling prices for necessities.
The ceiling price, he added, would be based on the current global market price of palm oil.
“The gazette process is expected to be completed in a week,” Annuar, who is also Communications and Multimedia Minister, told a press conference here yesterday.
“They can sell cheaper but not more than the maximum ceiling price gazetted by the ministry.
“They are no longer free to set the prices based on their wishes,” he said, adding that this would prevent sellers from profiteering excessively.
To avoid confusion, the government would also ban the export of cooking oil in polybags immediately, said Annuar.
He noted that authorities had found that cooking oil in polybags were exported to neighbouring countries, with certain quarters having claimed that they were permitted to export the item.
The cooking oil sold abroad in polybags is not subsidised, but cooking oil in 1kg polybags sold locally is subsidised.
“The committee has followed up with the relevant agencies to stop the export of cooking oil as this creates confusion,” he said, adding that the ministry would negotiate with the relevant stakeholders, especially those in charge of export licences.
He said engagement sessions would also be held with political party and student leaders, among others, and that seminars and information sharing would be organised.“I welcome the views of all quarters including students,” he said, adding that he welcomed the views expressed at last Saturday’s #Turun protest.