Traders told me about drop in prices, says minister
GEORGE TOWN: The Domestic Trade, Cooperatives and Consumerism Ministry has maintained its findings on a survey that revealed 70 per cent of essential items saw a drop in prices since the Goods and Services Tax (GST) was zero-rated last month.
Its minister, Datuk Saifuddin Nasution, said apart from monitoring by the ministry’s enforcement, he was informed of the matter by traders while conducting inspections, including at the Bayan Baru market here yesterday.
“The ministry’s enforcement has conducted a survey on 1,688 premises involving 417 essential items, such as wet and dry goods and baby products.
“These items saw a price drop of between 0.04 and 13 per cent.”
Various quarters had questioned Saifuddin’s statement on the price drop last month, with Umno Youth vice chief Shahril Sufian Hamdan urging the minister to disclose the report of the study to enable people to compare market prices.
Saifuddin, who is Kulim Bandar Baharu member of parliament, said the survey conducted found that people’s willingness to spend was on the rise following the drop in prices of goods.
“Traders told me that people are more inclined to spend after the implementation of the zerorated GST.”
He said the ministry had received 4,000 complaints and more than 50 per cent of them concerned unchanged and increased prices of goods after the zero-rated GST implementation.
“There is an increase in the number of complaints.
“Our enforcement personnel have taken action and inspected restaurants, eateries and food courts.”