The Ministry of Domestic Trade, Cooperatives and Consumerism (MDTCC) has targeted 100 companies to join its price reduction campaign.
Thus far, 40 companies has pledged to be a part of this campaign. With their participation, a total of 488,056 products are being offered at lower prices and are on sale at 1,382 outlets and their branches nationwide.
The products involved are mostly household goods, food, beverages and furniture. The companies involved in this campaign include both local and international brands, such as Nestle.
Minister Datuk Seri Hasan Malek is certain that this initiative will help the people to cope with the rising prices of goods. He hopes to have 100 companies on board this campaign by the end of this year.
He urged companies to equally practise corporate social responsibility towards the community while making profits. Companies must not impose a high margin and only think about making money.
He also urged the public to be aware of their rights and report businesses that raised prices after the implementation of Good and Services Tax (GST). Last year, the ministry has resolved 98% consumer complaints.
[Source]
