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BN backbencher calls for ‘jihad’ on price manipulation

PARLIAMENT | A BN backbencher today called for a “jihad” (crusade) to address price manipulation to overcome the issue of rising prices.

Irmohizam Ibrahim (BN-Kuala Selangor) said this was necessary because there were a handful of traders who manipulated prices to rake in profits.

"One of the questions often asked by the people is why prices of food go up when there is a rise in fuel prices, but they do not go down when fuel prices drop. The question is why this happens.

"In my opinion, this happens because a handful of traders take advantage of the consumers,” he said when speaking during the debate on the motion of thanks for the royal address in the Dewan Rakyat.

He suggested that the government identify and control those who attempted to monopolise and manipulate market prices.

Irmohizam said balanced competition should be established in every existing market economy chain.

"I believe this can be overcome with the enforcement of the existing legislation, namely the Price Control and Anti-Profiteering Act 2011,” he said.

The house will sit again tomorrow.

- Bernama

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