Agriculture Ministry to create mechanism to maintain price of essential goods
New Strait Times June 15, 2018
The Agriculture and Agro-based Industry Ministry will create a mechanism to maintain the price of essential goods and manage the systematic balance between supply and demand. Minister Salahuddin Ayub said the mechanism would ensure supply was adequate and prices of goods remained affordable, while creating a competitive market for essential goods. “It will ensure the prices of essential goods remain reasonable and affordable to the people after the Sales and Services Tax (SST) comes into effect in September,” he told reporters at Prime Minister Tun Dr Mahathir Mohamad’s open house at Seri Perdana here today. Apart from that, Salahuddin said the price of essential goods ahead of Adilfitri had declined compared to last year. “For example, the price of chicken dropped to RM5 to RM6 (per kilo) compared to about RM7 last year, while vegetables are also down 50 per cent compared to last year's prices. “The price of meat also dropped between 30 and 50 per cent from last year,” he said. Meanwhile, on the termination of the monopoly of Padiberas Nasional Bhd (Bernas), Salahuddin said a new model report would be completed within a month. “I have assigned the National Agricultural Advisory Council, experts and ministry officials as well as an independent body to submit several proposals. “All the reports will be scrutinised for the implementation of a new model before it is tabled to the Cabinet,” he added. The ministry wants the Bernas monopoly to be terminated to form a more open market for paddy and rice yields as well as to create healthy competition among companies involved in the industry. -- BERNAMA