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Public must help curb profiteering even if inflation is kept under control
Free Malaysia Today
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7/1/2025
Madeline Berma says public monitoring and cooperation are essential to oversee traders who take advantage of SST expansion by raising prices without reasonable justification.
Read More:
https://www.freemalaysiatoday.com/category/nation/2025/07/02/public-support-key-to-curbing-profiteering-inflation-says-economist
Laporan Lanjut:
https://www.freemalaysiatoday.com/category/bahasa/tempatan/2025/07/02/pengguna-perlu-bantu-banteras-pencatutan-inflasi-kata-ahli-ekonomi
Free Malaysia Today is an independent, bi-lingual news portal with a focus on Malaysian current affairs.
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Transcript
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00:00
An economist says the government's move to reduce the impact of the expanded sales and service tax
00:06
should be fully supported by all parties, particularly consumers, to curb profiteering.
00:12
Madeleine Burma, a senior fellow at Institut Masa Depan, Malaysia,
00:16
said based on projections by the finance ministry and research firms,
00:20
the expanded SST, which came into effect yesterday,
00:23
was expected to have a limited short-term impact, including on inflation.
00:27
The estimated increases ranged from 0.25% to 1.6%.
00:32
However, Madeleine cautioned that the government needs to enhance monitoring
00:36
to prevent a sudden increase in the cost of living due to profiteering or unjustified price hikes.
00:43
She also said the public must cooperate by providing information and evidence
00:47
regarding unjustified price increases to the domestic trade and cost of living ministry.
00:52
Abu Sofyan Yaakob from ICAT University College said,
00:56
while minimal inflation may be felt over the next 12 months, it is expected to subside thereafter.
01:03
He noted that the B40 and M40 income groups are likely to experience minimal impact
01:08
as they generally do not consume imported goods or high-end food items such as king crabs.
01:15
However, he suggested that the government revisit the list of goods and services
01:19
affected by the SST expansion after a certain period.
01:22
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01:25
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01:25
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