MDTCC plans to set up special court for price manipulation cases

KUALA LUMPUR: The Ministry of Domestic Trade, Cooperatives and Consumerism (MDTCC) plans to set up a special court to handle cases under the Price Control and Anti-Profiteering Act.
Its deputy minister, Datuk Seri Ahmad Bashah Md Hanipah, said the move would be necessary in anticipation of quarters manipulating prices of goods with the implementation of the Goods and Services Tax (GST) next year.
The proposed setting up of this special court took into consideration such problems, he told the Dewan Rakyat today.
He was responding to a question by Zainudin Ismail (BN-Jelebu) who wanted to know of the preparations made by the government to face the possibility of an increase in the prices of goods with the implementation of GST.
Ahmad Bashah said the ministry would also set up a date management system to monitor the prices of goods before, during and after the implementation of GST.
"This price date base will facilitate the government in identifying the trend in prices of goods and services in the market and will be used as a reference in determining the reasonable profit rate," he added. – Bernama