Act to be amended to tackle manipulation by middlemen: Zahid

BAGAN DATUK: Deputy Prime Minister Datuk Seri Ahmad Zahid Hamidi said the Price Control and Anti Profiteering Act 2011 will be amended or a new law will be drawn up to tackle manipulation of prices by middlemen.
Ahmad Zahid, who also chairs the high-level committee tackling the rising cost of living, said the Act currently did not have provisions for price control involving middlemen or cartels.
"When it happens (spiralling prices of goods), our opinions should not differ no matter which party we belong to, as the issue of food (prices) is a common concern," he said at the handing-over of cattle for sacrifice in conjunction with the Aidiladha celebration, here today.
"These people who take advantage and manipulate the market forces lead to the high retail prices.
"They fix the prices based on their own assumption which lead to the high cost of living," he said.
He added that the Agriculture and Agro-based Industry Ministry, and Domestic Trade, Cooperatives and Consumerism Ministry had been asked to discuss with their legal advisers to find the best mechanism in amending the Act or to think of a suitable new act.
Ahmad Zahid who is also the MP for Bagan Datuk, said this matter should be expedited because without strict legal enforcement, the people at large who were the victims of profiteering, would blame the government for this.
"This is the concern of the public that is being tackled both ministries, through proper enforcement.
"To the middlemen, I urge that they do not take advantage of situations of hardship faced by the people," he said.
Ahmad Zahid said they hoped to table the changes at the next parliament meeting in October.