KUALA LUMPUR: Retail licences for chicken, mild steel round bars and cement will be abolished on July 15 to allow market forces to determine their prices, said Domestic Trade, Cooperatives and Consumerism Minister Datuk Seri Ismail Sabri Yaakob.The move would also check the smuggling of the products, he said.
He also said the supply of chicken had been more stable following the imposition of price control.
The removal of the retail licences for the three items would enable the ministry to better focus on the pricing and supply of sugar, wheat flour and cooking oil.
“In 2008, the ministry abolished the price control on chicken, steel and cement. However, it maintained control on supply and, through licensing, the supply of chicken in the country stabilised,” he said at a press conference at his office in Parliament House here yesterday.
He said 2,676 retail licences to sell chicken, 3,000 to sell cement and 2,356 to sell steel were issued between January and yesterday.
He also said the Price Control and Anti-Profiteering Bill 2010 was expected to be tabled at the current session of Parliament to replace the Price Control Act 1946.
“The Cabinet has approved the Bill. I hope it can be tabled next week,” he said, adding that once the Bill was approved, licences under the Festive Season Price Control Scheme would be abolished. – Bernama
Source: http://thestar.com.my/news/story.asp?file=/2010/6/23/nation/6526702&sec=nation
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