More people will be given the opportunity to open the 1Malaysia People's Shop 2.0 (KR1M 2.0) to ensure the business does not fail like the previous KR1M 1.0, said Domestic Trade, Cooperatives and Consumerism Minister Hamzah Zainudin.

He said the government would also appoint more suppliers to enable them to get the lowest prices and to prevent monopolies.

He said the first KR1M 2.0 would be launched soon after agreements with the parties involved were finalised.

"Previously, we gave to Mydin (sic) which proposed the KR1M model and its implementation was supported by the government, but the company could no longer compete and has chosen to withdraw causing us to come up with a new model," he told the media after launching the 'Friends of KPDNKK Perlis' (FOK) at the Teacher Education Institute Perlis Campus in Kangar today.

Hamzah was commenting on the establishment of 50 KR1M 2.0 by the end of next year to replace KR1M 1.0 as announced in Budget 2018 which was tabled by Prime Minister Najib Abdul Razak yesterday.

He said the government was aiming to set up 3,000 KR1M by 2020 so that the people could purchase their daily necessities at cheaper prices compared to market prices.

Hamzah said apart from the controlled items (cooking oil, sugar, liquefied petroleum gas and flour), 50 other items could be bought at affordable prices at KR1M.

“The 2018 budget is the most inclusive budget ever presented and this goes to show that the Barisan Nasional (BN) government is capable of administering, implementing and transforming the country's economic agenda to achieve a developed nation status in 2020,” he said.

- Bernama