Hamzah regrets media ‘spin’ on his speech

KUALA LUMPUR: Domestic Trade, Cooperatives and Consumerism Minister Datuk Hamzah Zainuddin regrets the negative media spin on his statements explaining why the government could not control the prices of goods and services.

On his speech at the 71st Umno General Assembly, Hamzah said he had merely used extracts of a hadith to relate to the current situation, but was misinterpreted as stating that “it is Allah who decides the price of goods”.

He said the rise in prices had become a social issue since the days of Prophet Muhammad, when the Prophet had intervened to reduce prices in upholding non-interference in the free-market concept.

“He (the Prophet) did not specifically speak of the free market, but that was what he was trying to explain to the people. In a free market, you must be fair to all.”

While the opposition has been using the Goods and Services Tax (GST) and the price hikes to undermine the government, Hamzah said, the government remained steadfast in upholding the basic principles in a free-market economy. The government refuted the political spin aired by the opposition, which claimed that it did not address the cost of living and had left it to God.

“The prices of goods are one of the lowest in Asean. It shows that we control the prices well and are fair in looking after businesses and consumers.”

He said the government controlled the prices of rice, sugar, flour, cooking oil and cooking gas to help the people.

“The government has been fair by giving subsidies for these essential goods. We spend RM2 billion annually to control the prices of these five essential goods.

“Fresh produce, such as fish, poultry, meat and vegetables, are subject to supply.

“The prices go down if there is an oversupply, and go up if there is not enough supply.”

It shows that we control the prices well and are fair in looking after businesses and consumers.