MYCC to conduct market review on retail and wholsesale sectors: Saifuddin

28 Jun 2019 / 13:40 H.

KUALA LUMPUR: The Malaysian Competition Commission (MyCC) will conduct a market review on the wholesale and retail sectors, as it seeks to get a better understanding on the two sectors, said Datuk Seri Saifuddin Nasution Ismail (pix).

The Domestic Trade and Consumer Affairs Minister said the market review on the two sectors followed similar research on the food sector, where the findings are expected to be released this July 31.

“The Ministry of Domestic Trade and Consumer Affairs is the ministry that regulates the wholesale and retail industry.

“Conducting this review is a continuous process, but I ask the MyCC to focus on five items and start them immediately. This is in addition to the supply chain analysis conducted by the ministry,” he said after launching the 1st EU–Asean Competition Week Closing Ceremony here today.

Also present were MyCC chairman Datuk Seri Mohd Hishamudin Md Yunus and its chief executive officer Iskandar Ismail.

The market review on the food sector which began in November last year, involved five selected items, namely cabbage, spinach, beef, mackerel and baby powdered milk.

Saifuddin said the purpose of a market review on the food sector was to provide the government with a clearer picture and analysis of the sector prior to drafting a policy on the sector.

“They (MyCC) have done extensive engagement and consultation with the public and the MyCC is currently in the final stages to provide the final report, which we expect to be this July 31,” he said.

Saifuddin also said the ministry would constantly monitor market prices following the implementation of the sugar tax in July.

“Carbonated beverages are not included in the controlled items and are subject to taxation percentage as well as supply and demand. The Ministry will monitor if there are any complaints. Of course, we will use the existing laws,” he added. — Bernama

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