Gazette of maximum retail price for cooking oil reflects industry and consumer interests, says Deputy Minister

Deputy Minister of Domestic Trade and Consumer Affairs Datuk Rosol Wahid speaks at the Dewan Rakyat, July 25, 2022. – Bernama pic

Tuesday, July 26, 2022 6:23 PM MYT

PUTRAJAYA, July 26 – The official publication of the maximum retail price of pure cooking oil in bottles will be implemented taking into account the interests of industry and the welfare of consumers, said the Deputy Minister of Domestic Trade and Consumption Datuk Rosol Wahid.

“We are doing this to protect the interests of both parties (industry and consumers), we don’t want to put pressure on traders because they might sulk and that will cause problems. At the same time, we don’t want consumers to be victimized.

“We have to strike a balance, traders have to run their business wisely and consumers have to be smart as well,” he said after the pre-launch of the 2022 Malaysian Vending Scheme (PJM) Spend and Win Lucky Draw here today.

Yesterday, the chairman of the Special Task Force on Jihad Against Inflation, Tan Sri Annuar Musa, announced that the government will publish in the Official Gazette the maximum retail price of pure cooking oil in bottles to ensure that the product will have its maximum price from time to time.

Annuar said the move was deemed necessary after talks held with industry to bring down the price of cooking oil proved ineffective despite falling crude palm oil prices.

On the PJM Spend and Win Lucky Draw, Rosol said the program, which will run from August 1 to 31, offers a Proton X50 car as a grand prize and is expected to attract more than one million entries.

Malaysians aged 18 and above are eligible to participate in the raffle and only need to spend a minimum of RM100 on receipt and submit their entries through the MySales Tracker app developed by the ministry. — Bernama