Various strategies to tackle rising cost of living

KUALA LUMPUR: The Special Cabinet to Tackle Rising Cost of Living regularly discuss various strategies based on the National Blue Ocean Strategy ( NBOS) to resolve urban poverty in a holistic manner.

Domestic Trade, Cooperatives and Consumerism Deputy Minister Datuk Henry Sum Agung cited the joint Price Committee involving relevant ministries and agencies to study issues in the distribution network, and Federal Special Aid Fund to collect corporate social responsibility (CSR) funds.

“More than 100 companies are registered under the CSR fund with an estimated collection of RM7 million in 2016 and which have been channelled to institutions registered with the Social Welfare Department such as the Malaysian volunteers organisations and non-governmental organisations.

“This committee will from time to time study the strategies and action plans related to living cost to improve the quality of life and well-being of the people,” he said.

He was responding to Datuk Dr Shamsul Anuar Nasarah (BN-Lenggong) on measures taken by the government to tackle the rising cost of living through NBOS.

Henry said other initiatives included stern action against errant traders under the Price Control and Anti-Profiteering Act 2011, and Fair Price campaigns to ensure that the people benefited from low prices offered by hypermarkets and supermarkets.

“The government also implemented the festive season price control to curb overpricing during the six major celebrations, Chinese New Year, Gawai, Pesta Kaamatan, Aidilfitri, Deepavali and Christmas,” he said.

Aside from that, he said, the Price Standardisation programme was to ensure that consumers in the rural areas of Peninsular Malaysia, Sabah and Sarawak enjoyed controlled prices of essentials such as rice, sugar, cooking oil, flour, LPG cooking gas, RON 95 petrol and diesel. — Bernama