KUALA LUMPUR, March 11 (Bernama) -- The Federation of Malaysian Consumers Associations (FOMCA) Friday called for a commission on prices of goods and services to be set up to study requests for price increases.
Its president, N. Marimuthu, said such commissions also played the role of mediator between those seeking price increases and consumers in many advanced countries.
"We need such a commission to ensure that any increase in prices of goods or services is justified and acceptable to all parties," he told Bernama.
As an example, he said, if an association sought a price increase for its goods or services it could refer the matter to the commission and consumers opposing the hike could also appeal to it.
He said what was happening now was that anyone seeking a price increase submitted a memorandum to the minister concerned and the decision to approve the price hike was not done collectively by a body set up for the purpose.
"In connection with this, FOMCA will submit a paper on the setting up of the commission to Domestic Trade and Consumer Affairs Minister Datuk Shafie Apdal later this month," he added.
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