Study on price stabilisation for Sabah, Sarawak, Labuan

KOTA KINABALU: The Price Stabilisation Committee for Sabah, Sarawak, and the Federal Territory of Labuan has agreed to conduct a study on price stabilisation of goods and services for all three regions.

The Ministry of Domestic Trade and Cost of Living (KPDN) in a statement informed that the decision was made in the first meeting of the committee chaired by Deputy Prime Minister Datuk Seri Fadillah Yusof, who is also the Minister of Energy Transition and Water Transformation (PETRA).

According to the statement, the study, to be carried out by Universiti Malaysia Sabah and Universiti Malaysia Sarawak, aims to ensure that government interventions in price stabilization in these states are based on data-driven decisionmaking.

“The Federal and State Governments remain vigilant on the issue of prices of goods and services in Sabah, Sarawak, and the Federal Territory of Labuan.

“This agenda will be pursued through a whole-of-nation approach, including direct involvement of the state governments, taking into account the state governments’ jurisdiction in certain aspects involving the food sector,” the statement said.

The statement mentioned that briefing papers and considerations regarding household income, expenditures, inflation rates, current scenarios, and trends in commodity prices in Sabah, Sarawak, and Labuan presented by the Department of Statistics Malaysia (DOSM) and the National Price Division of KPDN were also discussed.

The meeting was also attended by Domestic Trade and Cost of Living Minister Datuk Armizan Mohd Ali, representatives of the Sabah and Sarawak state governments, KPDN secretarygeneral, chief executive officer of the Labuan Corporation and members of the committee.

In the same statement, KPDN said the committee was established following the announcement by Prime Minister Datuk Seri Anwar Ibrahim to identify the best approaches and methods to ensure price stability of goods and services in Sabah, Sarawak, and Labuan.