One week to revise prices: KPDNKK

KUALA LUMPUR: The Domestic Trade, Cooperatives and Consumerism (KPDNKK) has given traders a week to revise their prices to reflect the drop in petrol and diesel prices.
Its Minister Datuk Hamzah Zainuddin (pix) said the move was best to benefit both the consumers and traders.
"When it comes to logistics, these people actually transported their products and supplies to the shops, it is unfair for me to take action immediately when the products are already there (at the shop) for more than a week.
"I think after a week, normally the products would be used and that is the time when we can check if they have reduced the prices or not," Hamzah told the media after his inaugural visit to the Intellectual Property Academy (IPA) at Menara UOA here.
Hamzah also warned errant businessmen who have yet to bring down their prices that enforcement officers would be doing checks nationwide to see if the prices had been reduced.
"The people can report if they come across businessman who are profiteering. If they don't reflect the new costs we will take action (under the Anti-Profiteering Act and the Price Control Act) against them," Hamzah said.