KUALA LUMPUR, Jan 27 – Electronics and communications businesses are being warned not to jack up the price of goods like computers, printers, tablets and smartphones as demand increases.
“Lately, we have been receiving complaints about an increase in prices for electronics and communications equipment due to high market demand,” said Ministry of Domestic Trade and Consumer Affairs (KPDNHEP) enforcement chief, Zubir Hamsa, in a statement today.
He said that a trader found unreasonably increasing the price of goods violates Section 14 of the Price Control and Anti-Profiteering Act (AKHAP) 2011.
“The person can be fined a maximum RM100,000 or three years’ jail or both, while a company or corporate entity can be fined a maximum 500,000 if convicted.”
Zubir said that since Monday (Jan 26), KPDNHEP has carried out inspections under Op Catut 8.0 (an anti-profiteering operation) at premises around the capital.
“So far, KPDNHEP has issued eight notices under Section 21 of the AKHAP 2011 for the traders to provide details on cost and sales price within two days for further investigation,” he said.
He said KPDNHEP will continue to conduct inspections to protect consumers but at the same time “consumers must be prudent about purchases and compare prices.”