60 price hikes recorded

Azlan Othman & Fadley Faisal

Some 60 cases of price hikes were recorded by the Department of Economic Planning and Statistics (DEPS) from February until now said Minister at the Prime Minister’s Office and Minister of Finance and Economy II Dato Seri Setia Dr Awang Haji Mohd Amin Liew bin Abdullah at the daily press conference yesterday.

Ten cases were fined BND500 to BND1,000. First time offenders were issued a warning while DEPS will continue to monitor them.

The minister said in the past year, over 160 complaints were lodged and most complaints were resolved, adding that only one disagreed with DEPS assessment and if the disagreement had continued, it would have been forwarded to a tribunal.

Several retail shops were found to have hiked the price of controlled items above the ceiling price, he said.

Meanwhile, the minister said there is no policy compelling businesses to display prices on items posted for sale online.

However, the minister urged businesses to display prices on products posted online. “Informal businesses that posted their products online should also display prices to ease doing business.”