KUALA LUMPUR: The Domestic Trade and Cost of Living Ministry will not compromise with traders who engage in profiteering, warning that inspections will be conducted to ensure compliance.
Its director-general of enforcement, Datuk Azman Adam, lambasted unscrupulous traders, saying that profiteering could have a significant impact on consumers.
He also urged the public to report such cases directly to the ministry instead of taking to social media.
"We cannot compromise on this because even if only a small number of traders engage in unethical practices, the impact on the bigger picture is significant.
"At the same time, consumers should alert us of such practices instead of going through social media, so we can take action quickly and effectively," he told the New Straits Times.
He said the ministry's enforcement officers would monitor and conduct surprise inspections at all levels of the business chain.
"If there are complaints or findings that show traders taking advantage by raising prices or profiteering, action will be taken under the Price Control and Anti-Profiteering Act 2011.
"If found guilty, fines of up to RM500,000 may be imposed on corporations or companies and up to RM100,000 on individuals, or imprisonment for up to three years, or both," he said.
His comments came in the wake of complaints over high prices of food at Ramadan bazaars nationwide. Traders associations had blamed the high cost of raw materials, which led them to raise prices.
The ministry had on March 12 launched Op Pantau to monitor business activities throughout Ramadan.
The surprise inspections aim to prevent hoarding of essential items, such as sugar, chicken, eggs and cooking oil, and stabilise the prices of fresh produce in the festive season. They also aim to prevent profiteering at Ramadan bazaars and stop the sale of counterfeit goods.
The enforcement is carried out nationwide with focus on Ramadan bazaars, Aidilfitri bazaars, wet markets, hypermarkets, supermarkets, grocery stores and online sales platforms.
Azman said his ministry personnel had inspected 20,854 premises to date.
"Of the number, 84 cases involving various offences were recorded with seizures of goods worth RM414,319.07.
"Monitoring has been conducted at 685 Ramadan bazaars since Ops Pantau was launched.
"We also received 623 complaints on various offences, such as failure to display price tags, failure to use valid weighing instruments and sale of counterfeit goods."
Earlier, Prime Minister Datuk Seri Anwar Ibrahim also called for an investigation into reports suggesting there was an increase in food prices despite the drop in prices of rice and poultry.
Domestic Trade and Cost of Living Minister Datuk Armizan Mohd Ali on Saturday acknowledged that there was an increase in the prices of food at Ramadan bazaars nationwide.
Speaking in Seremban, he said consumers must exercise their rights by opting for products or food sold at cheaper prices.
"I do not deny this (food sold at high prices). There are such cases and for those suspected of engaging in profiteering, we will issue notices for them to explain their cost structure," he said.
Public complaints can be lodged via WhatsApp to 019-848 8000 / 019-279 431 or the ministry's e-Complaint Portal at eaduan.kpdn.gov.my.
Consumers may also call the call centre at 1-800-886-800, use the Ez ADU KPDN application or contact the Enforcement Command Centre at 03-8882 6245 / 6088.