PUTRAJAYA 23 JUN 2019 – The Minister of Domestic Trade and Consumer Affairs YB Datuk Seri Saifuddin Nasution Ismail has proven the Government’s commitment to keep living costs faced by Malaysians by keeping cement prices in check after the Government met with cement industry players.
“This success immediately tackles concerns over a possible 40% hike in cement prices across Peninsular Malaysia as reported by the media in the past week. It also alleviates fears that major cement producers in the country were abusing their market power to raise cement prices unfairly.
Cement is a basic building material and a drastic price increase will inevitably feed into the economy negatively, and eventually hurt consumers” said Minister of Finance, YB Lim Guan Eng in a statement today.
Lim also added that cement prices in Sarawak that are markedly higher than in Peninsular Malaysia should be further examined to determine whether it is caused by monopolistic practices of local industry players in Sarawak.
Inflation for consumers remains low and stable. The consumer price index for April 2019 increased by only 0.2%, which was the same as for March 2019.