THE Malaysian Trades Union Congress (MTUC) today threatened to march on Putrajaya if the Domestic Trade and Consumer Affairs Ministry fails to reply to a April 1 memorandum on inflation.

MTUC sent the memorandum recommending that the ministry constantly monitor the prices of goods and services.

“We did not send this memorandum to vilify any party but so that consumers, especially the working class, are not burdened with the uncontrolled rise in the cost of goods and services,” MTUC secretary-general Kamarul Baharin Mansor said in a statement.

“Our next step will be to march and gather in Putrajaya if we do not get a reply from the minister.

He also expressed concern over an anticipated 60% rise in the prices of goods next month.

“Although the higher minimum wage of RM1,500 will improve purchasing power, businesses should not take advantage of this by increasing prices,” he said.

Kamarul called on the government to deploy more enforcement officers to take action against unscrupulous businesses.  TMI

Malaysia’s inflation low due to subsidies, price controls, says Mustapa

Minister in the Prime Minister’s Department (Economy) Mustapa Mohamed says price controls and broad-based subsidies implement by the government has helped keep the country’s inflation rate low. – The Malaysian Insight file pic, May 24, 2022.
He said the government’s move to control raw material prices has also helped in curbing the country’s inflation, which stood at 2.2% in March 2022.“(Inflation) in the United States hit 8.3% (in April) while in the United Kingdom, it was 9%.“Thankfully, our inflation rate is low due to price controls and subsidies such as those for cooking oil and fuel. For example, the actual oil price is more than RM4 a litre, but the people only have to pay RM2.05 per litre for RON95 and RM2.18 per litre for diesel,” he told the media after officiating a letter of intent signing ceremony between AirAsia Academy and MyDigital Corporation today. 

This surpassed the average inflation of 1.9% in Malaysia for the period of January 2011 to March 2022, the department added.

Meanwhile, he said the government is studying in detail the implementation of targeted subsidies and will make an announcement in due time.

“The government, realising the pressure felt by the people due to rising prices, is providing large subsidies. And these subsidies will be continued, but from a policy standpoint, we have decided to implement a targeted subsidy policy for those who are eligible and needy,” Mustapa said.

The minister also said the government has no intention to peg the ringgit to the US dollar, in line with what had been announced by Bank Negara Malaysia governor Nor Shamsiah Mohd Yunus.

At the ceremony today, Mustapa lauded AirAsia Academy for its initiative to train Malaysians by providing upskilling and reskilling courses to improve their employability and career advancement prospects as well as enhancing their capability to use, develop, design and innovate Industrial Revolution 4.0 (4IR) technology solutions.

AirAsia Academy’s collaboration with MyDigital Corporation is aimed at accelerating digital literacy among students and reskilling professionals to contribute to the nation’s growing digital economy and the 4IR.

AirAsia Academy is RedBeat Capital’s education arm under Capital A Bhd. – Bernama

THE MALAYSIAN INSIGHT / BERNAMA

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