Prime Minister Ismail Sabri Yaakob’s administration took a bold step this week to remove a controversial licensing system that governs imports of goods into Malaysia, in a bid to boost food supply and keep prices in check.
But economists warn that more countermeasures will be needed as ordinary Malaysians continue to face inflationary spikes and rising household debt.
The government said on Wednesday that approved permits (APs) for a range of food items have been scrapped with immediate effect, abandoning a decades-old system that has contributed to spikes in food prices while benefiting licence holders. The move came amid reports of shortages of essential items.
Supermarkets and grocery stores in Melaka and Terengganu have reported shortages in wheat flour, said local media, while Malaysians complain on social media about sharp price increases for items like cooking oil, eggs, chicken and vegetables.
Opposition politicians said they have received complaints from constituents in smaller towns in Negeri Sembilan and Perak of difficulties faced by provision shops in replenishing stocks for margarine and powdered milk.
Separately, a grouping of poultry players have warned that they plan to close their farms this weekend to protest against the government’s delay in subsidy payments. Prices for certain grades of whole chicken have more than doubled to RM25 (S$8).
This story is from the May 22, 2022 edition of The Straits Times.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the May 22, 2022 edition of The Straits Times.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber? Sign In
FINALLY, A FIRST GOLD FOR PERKINS
Patience rewarded for French jockey whose rides, let alone good ones, have been scarce
TOUGH MARE SEALS LAST TOUR DE FORCE WITH A WIN
French fields beckon as Lim’s Force goes out with a bang, leading rare Zaki riding double
Banks' earnings expected to stay strong with higher-for-longer rates
S’pore bank chiefs optimistic about net interest margins, but headwinds remain
Spending spree led by US, EU pushes rivalry with China to critical turning point
WASHINGTON by the United States and European Union have funnelled nearly US$81 billion (S$110 billion) towards cranking out the next generation of semiconductors, escalating a global showdown with China for chip supremacy.
Archegos founder on trial for securities fraud
Archegos founder Bill Hwang was scheduled to go on trial on May 13 for alleged securities fraud and market manipulation, prosecutors said, following the fund's spectacular 2021 implosion that cost large banks billions of dollars.
Changi Airport’s heavy and specialised vehicles to trial use of renewable diesel
As part of a further move to lower the aviation industry's carbon footprint, trials on the use of renewable diesel for heavy and specialised airside vehicles will be conducted at Changi Airport.
Convict deported to Cambodia faces possible extradition to China
Beijing has an extradition treaty with Phnom Penh, but not with S’pore
Sellers welcome option to market resale flats on HDB portal by themselves
They can market their unit at their own pace and save on property agent fees
US gurus’ push false claims to attack birth control pills
They monetise misinformation to hawk healing’ oils and fertility-tracking service
Wildfires in Western Canada spark evacuation orders, air quality concerns
The season’s first major wildfire continued to spread to roughly 10,000ha across Western Canada on May 12 as the authorities issued an evacuation order for a community in British Columbia and warned of poor air quality across provinces.
