Traders can increase prices of goods, provided there are no elements of profiteering

Rosol (fourth right) speaking to one of the traders at Stutong Community Market during his walkabout today.

KUCHING, Jan 21: Traders can increase the prices of goods, provided there are no elements of profiteering, said Deputy Domestic Trade and Consumer Affairs (KPDNHEP) Minister Datuk Rosol Wahid.

According to Rosol, KPDNHEP received feedback from food traders that there is a need to increase their food prices because the price of raw materials has also increased.

“They can raise the price, but the profit should not be too high. We understand that they are doing business for profit, but don’t overdo it.

“If there are elements of profiteering, then it will become an offence under our law,” he told reporters after a walkabout in Stutong Community Market here today.

He said this in response to a question asked by reporters regarding the recent increase in prices of goods.

Rosol noted other factors that influenced the increase in prices of goods include the foreign exchange value.

“However, we continue to negotiate with them (traders) not to increase the price steeply because if the price of one item goes up, it will affect other items too,” he added. — DayakDaily