Need For Task Force To Study Price Increase Due To Middlemen- DPM

IPOH, Nov 25 (Bernama) --A task force should be set up under the Domestic Trade, Cooperatives and Consumerism Ministry to study the presence of middlemen to be the reason for price of goods to exceed market price.

Deputy Prime Minister Datuk Seri Dr Ahmad Zahid Hamidi said this was because the government feared that it was the middlemen who marked up the price for more profit.

He said the price hike was not only on food, but also transportation cost and utilities.

"We do not want the people to become victims and in the end, the negative perception and accusations are hurled at the Domestic Trade, Cooperatives and Consumerism Ministry," he said when opening the 2017 Mega Sales carnival at Bulatan Amanjaya, Meru, here today.

He said based on a recent study, the country's economy was improving, but the price of goods was still burdening consumers.

"Based on index, the wholesale and retail sector recorded an increase of 7.4 per cent, with retail banking up to 10.4 per cent during the third quarter of the year," he added.

--BERNAMA