PRICES OF RAW GOODS STABLE
Market traders say they can’t afford to reduce prices
ADAY before the Goods and Services Tax (GST) goes zero-rated, checks showed that the prices of raw goods and other essentials are stable.
Checks by the New Straits Times Press at Chow Kit market here yesterday showed that standard chicken is priced at between RM7.50 and RM8 per kg, local beef at RM40 per kg, and spinach between RM5 and RM6 per kg.
Grade A chicken eggs were sold at RM4.50 a dozen, Super Tempatan rice at RM13 per five kg, while flour remained at RM2 per kg.
Traders gave no indication that prices would go down today with GST going zero-rated.
Instead, they questioned the move, saying that they could not afford to reduce the prices further.
Trader Fadzil Wahab, 55, said prices remained constant and were in accordance with controlled prices.
He said this year, prices remained about the same with hardly any increase, but said it would be difficult for traders to reduce prices.
“It is hard for us to set prices. “We do not see how we can reduce them when GST goes zerorated tomorrow (today), seeing that the items are already costly.
“I suggest that the government determine the prices, categorise the goods and the prices (for each category).”
Another trader, Jesy Tay, 33, echoed the sentiments.
“We will maintain the prices for as long as there are no directives on new prices.
“We have not received any complaints on the prices as they are the same.”
GST will be replaced with the Sales and Services Tax on Sept 1.
Prime Minister Tun Dr Mahathir Mohamad said with GST’s zero-rating, prices of goods that had been taxed should go down by at least six per cent.
He told traders to abide by the implementation.