TAPAH – Wholesalers and suppliers found hoarding cooking oil will have their business licences revoked, the Government has warned.
Domestic Trade, Cooperatives and Consumerism Minister Datuk Hamzah Zainuddin advised retailers to lodge a report with his ministry if they found their cooking oil delivery quota reduced.
He said such reports were important to enable the ministry to investigate the possibility of wholesalers and suppliers hoarding supplies.
“We want to ensure that supply is sufficient. So far, the price of cooking oil is still reasonable at RM2.50 per kg.
“The subsidy (for cooking oil) is still there and it is unfair to the people if anyone is hoarding supply,” he told reporters yesterday after checking on price controls at the wet market here for the coming Deepavali celebration.
Hamzah, who also checked on prices at a mini market, said the ministry had not received any report on the matter.
“So far, no complaint yet. I will personally conduct raids if I find out about it,” he said.
Wholesalers and suppliers found hoarding cooking oil can be charged under the Control of Supplies Act 1961, which carries a fine of RM100,000 for an individual and RM250,000 for a company.
He said there were 260 cooking oil wholesalers and suppliers in the country.
The Price Control Scheme for Deepavali, which falls on Oct 29, will be in force till Nov 1.
The enforcement period for the scheme is over 14 days.
Retailers risk being fined RM10,000 if they fail to display pink price tags on the 18 price-controlled items for the Deepavali festive period.
The items include chicken, eggs, mutton, tomatoes, red chillies, onions, coconuts, imported potatoes from China and dhal from Australia.
Hamzah said traders caught over-pricing risk being fined RM100,000. – The Star Online