9 December 2021

Establish price controls for a specified period and tax exemptions to buffer Malaysians against price hikes

The present reality of price hikes affects Malaysians from all walks of life. Thus, the relevant ministries are responsible for easing the people’s burdens. The government could remedy the situation by increasing people’s purchasing power amidst inflation.

For starters, the government could introduce price controls by exercising a soft control or enact legislations. These enable prices of goods in the market to be controlled via monitoring of their prices.

The government could also set ceiling prices for a duration to be ascertained to cover a specific list of essential items. This will lower the prices of essential items in the specified period to enable ratification measures to be undertaken.

Implementing tax exemptions on corporate taxes and SST for stakeholders in the supply chain of food essentials and essential items is another initiative the government could consider to reduce the prices of goods.

I urge the government to take swift actions to address the issue of price hikes, not just to ease the people’s burden but also to prevent irresponsible parties from twisting the facts and inciting the people. Also, enforcement officials should make the rounds regularly to deter profiteering sellers.

Datuk Nicole Wong Siaw Ting
MCA Youth National Chairperson

-MCA Online-