Published: Tuesday December 7, 2010 MYT 3:57:00 PM

BERA: The Anti-Profiteering Act 2010 which prohibits traders from indiscriminately increasing prices of goods will be enforced in April next year.

Domestic Trade, Cooperatives and Consumerism Minister Datuk Seri Ismail Sabri Yaakob said the law would be enforced to protect consumers.

 

"When the act is enforced, traders can no longer raise prices of goods and to make huge profits as they like," he told reporters after presenting school uniform and stationery to 1,400 primary and secondary school students in the Bera parliamentary constituency here Tuesday.

Ismail Sabri said that with the enforcement of the law, a Price Advisory Council, to be represented by traders, consumers and ministry officers, would be set up to monitor traders.

"If traders are to raise prices of goods without valid reason, the committee will lodge a report and action will be taken against the traders concerned,' he added. - Bernama

Source: The Star