Ministry Creates Think Tank To Boost Effectiveness

KUALA LUMPUR, Jan 9 - The Domestic Trade, Cooperatives and Consumerism Ministry (KPDNKK) has created a think tank to boost its effectiveness.

Minister Datuk Seri Hasan Malek said the nine-member group, which includes Malaysian Institute of Economic Research Chairman Tan Sri Dr Sulaiman Mahbob and former Johor Corporation President and Chief Executive Officer Tan Sri Muhammad Ali Hashim, has the autonomy to hold discussions from time to time without being tied down to regulations and schedules.

On the ministry's new responsibility of promoting the development of petty traders, Hasan said the ministry needs to quickly identify effective measures to help the still weak sector.

Speaking at a dinner with the group last night, he said the major challenge facing the ministry over the implementation of the Goods and Services Tax (GST) next year is ensuring businesses do not take advantage by raising their prices indiscriminately.

Issues being discussed at the ministry include the criteria used to define profiteering, he said.

"The issue of prices of goods is not just a question of demand, it is a complex issue as in an open market economy, the government cannot control the prices of all goods," he said, adding in an inefficient market, prices will fluctuate due to a volatile demand and supply situation.


BERNAMA