Published: Tuesday October 2, 2012 MYT 1:52:00 PM
Updated: Tuesday October 2, 2012 MYT 4:00:42 PM
Food retailers warned against raising prices after sugar subsidy cut
By YVONNE LIM
KUALA LUMPUR: Food traders and retailers have been reminded not to take advantage of the reduced sugar subsidy to raise food prices.
"Those found taking advantage of the reduced subsidy by charging exorbitant prices will be penalised under the Price Control and Anti Profiteering Act 2010," Domestic Trade, Cooperatives and Consumerism Deputy Minister Datuk Tan Lian Hoe told reporters at the Dewan Rakyat here on Tuesday.
Businesses that fail to comply with the Act can be fined up to RM500,000 with a compound of up to RM250,000, while individuals who infringe the Act can be fined up to RM100,000, or two years' jail sentence, or both, with a compound of up to RM50,000.
She urged members of the public to be the ministry's "eyes and ears", and report noncompliant traders.
She said that food traders and consumers alike should also use this opportunity to lessen their sugar intake.
"With the high statistics of Malaysians with diabetes, it would be more beneficial for us all to reduce our sugar intake," she said.
The Prime Minister had announced in Budget 2013 recently that sugar subsidy would be reduced by 20 sen per kg causing the retail sugar price to go up to RM2.50 per kg.
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