Targeted diesel subsidies – KPDN calls on 10 companies to increase prices under the Anti-Profiteering Act
Not many of us drive diesel vehicles, certainly not as many as those who use RON 95. But what people are concerned about is the rising prices of everyday goods and services using tariffs. has just been announced. Eliminate general subsidies on diesel As an excuse. We’ve all seen it before, traders raising prices and – rightly or wrongly – blaming the government.
So it’s good that the Department of Domestic Trade and Cost of Living (KPDN) is actively pursuing those suspected of profiteering. Ten companies that announced price hikes after the targeted diesel subsidy scheme began on June 10 have received written notices under Section 21 of the Price Control and Anti-Profiteering (AKHAP) Act, 2011 .
KPDN Minister Datuk Armizan Mohd Ali today said initial investigations showed that four of the arrested companies had approved their applications for fleet tags, which means their vehicles will still be entitled to diesel subsidies. The remaining six companies have vehicles that are not on the list Subsidized diesel engine control system (SKDS) 2.0.
Armizan explained that companies will be required to provide detailed information including documents related to the provision of services or sale of goods for the purpose of preparing profit analysis. Failure to appear is punishable under Section 57 of Act 723.
Who are they? The Minister said these 10 companies include 3 companies in the transportation sector, construction materials and food and beverage sectors. The two companies belong to the field of machinery rental.
KPDN launched Kesan 2.0 activities on June 8 with the aim of ensuring that all price determinations or increases under SKDS 2.0 comply with the Price Control and Anti-Profiteering Regulations, 2011.
The Ministry has warned all parties against taking advantage of the increase in prices of goods and services that have an element of profit following the implementation of targeted diesel subsidy. Any party found engaging in price manipulation will be dealt with under Act 723 and may be fined up to RM500,000 for corporations or companies and up to RM100,000 for individuals or imprisoned not exceeding three years or both.
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