PUTRAJAYA: Consumers can expect major changes in the demand and supply mechanism, including doing away with controlling the prices of essential goods, said Domestic Trade and Consumer Affairs Minister Datuk Shahrir Samad.
He gave an assurance that all changes to be taken would benefit the consumers.
“Whatever we do, we must ensure that there is abundant and sufficient supply (of consumer goods),” he told reporters after “taking over” the ministry for former minister Datuk Shafie Apdal here yesterday.
Shahrir said ensuring sufficient supply would need a concerted effort from several ministries including Agriculture and Agro-based Industries, Plantation Industries and Commodities and International Trade and Industry.
He said he would look into operating an open market system and let prices be determined by market forces.
He noted that everyone was under the perception that Malaysia was a big market when actually it was small, making it easy for a few businessmen and manufacturers to control the market.
“We know there is always the Afta (Asean Free Trade Area); if we allow products to enter the Asean region, we may have a better price system and supply may be better.
“These are some of the things we have to look at,” he added.
Shahrir said having price control mechanisms was not realistic, as supply could not be controlled.
Demand, he said, was well understood but if the supply was not within control, then artificial barriers to the supply would emerge and prices would still not be real.
“When we do not know the real price, how can we have a price control? (We) might be artificially controlling the price,” he said, jokingly adding that he was glad the spate of price increases which started in November last year was over.
Asked which issue he would tackle first, Shahrir said he needed time and planned to meet the manufacturers who were seeking price increases for certain goods.
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