Don't raise prices for two years to reduce impact of fuel increases

Thursday September 1, 2005

PETALING JAYA: The prices of essential goods and utilities should not be
raised for at least 24 months to reduce the impact of fuel increases.

The Federation of Consumer Associations of Malaysia (Fomca) is calling on
the Government to hold back any intention to revise prices of consumer goods
and utilities.

Fomca secretary-general Muhammad Sha'ani Abdullah said the association would
submit a memorandum on proposals to reduce the impact of fuel price rise on
consumers to the Government next week.

"We are worried about the severe impact of the fuel price rise on
consumers," he said, adding that Fomca would launch a national price
surveillance centre to provide information on prices of consumer goods and
utilities today.

"We will put up price lists of consumer products and utilities at public
places, including shopping malls. Consumers can also call us or access our
website (www.fomca.org.net) to find out about better bargains."

He said the association would extend its monitoring of prices of essential
items to more areas nationwide.

Fomca also urged consumers to be prudent in their spending and to save
money.

He said consumers could access Fomca's website to look at ways to save and
adjust their lifestyle and spending habits.

"We can't tell producers to sell goods below their cost price. We have to
bear with market forces.

"But consumers can report unscrupulous profiteering to us or the authorities
so that irresponsible traders can be penalised."