Weekly fuel price determination stays: KPDNKK

BATU KURAU: The Domestic Trade, Cooperatives and Consumerism Ministry (KPDNKK) today stressed that it will not make any change to the existing weekly determination of the retail prices of petrol and diesel fuel mechanism as it could inconvenience the people.
Its Minister Datuk Seri Hamzah Zainudin (pix) said this was due to the fact that the weekly mechanism established by the government had been gradually accepted by the people.
He said although oil prices fluctuated between seven and eight sen a week, the people understood and were willing to adapt to the changes.
"The price fluctuation mechanism is according to the world market price and once the people understand that, we should be thankful with what the government is doing for the well-being of the people," he told a press conference after officiating the Arena Pekan Selasa building here today.
The Arena Pekan Selasa, owned by the Koperasi Pasar dan Perniagaan Batu Kurau Berhad involved a total of RM250,000 to be constructed and fully completed early this year.
Meanwhile, Hamzah, who is also Member of Parliament for Larut, said cooperatives in the country were advised to develop their projects as they could help members enjoy dividends and whatever assistance provided by the government.
He said the cooperatives provided a platform for traders to work together as well as providing them with the facility to carry out their business including loans amounting to RM150,000 to develop projects in every parliamentary constituency in the country. — Bernama