Malaysia Consumer Movement (MCM) deputy chairman, Beninder Singh, said it is the responsibility of traders to comply with the directive to reduce prices or face legal action.
"Consumers are encouraged to report to the authorities if traders are found selling at prices higher than the controlled rates," he said when contacted by Bernama today.
Prime Minister Datuk Seri Anwar Ibrahim announced that the retail prices for grade A, B, and C chicken eggs have been reduced to 42 cents, 40 cents, and 38 cents each, respectively, effective today.
He said the government decided to lower chicken egg prices nationwide by 3 cents each to pass on targeted subsidy savings to the public.
Anwar, who is also the Finance Minister, stated that the 10-cent subsidy per egg amounts to an expenditure of RM100 million, and in 2023 the allocation for egg subsidies was RM927 million.
Meanwhile, Saravanan Thambirajah, chief executive officer of the Federation of Malaysian Consumers Associations (FOMCA), welcomed the government's announcement, highlighting its positive impact on consumers from various backgrounds.
"By reducing prices, consumers do not feel the pinch. However, it is not an excuse for businesses to increase the prices of their products.
"The price reduction is indeed beneficial as eggs are an important source of nutrition for consumers. However, the relevant authorities must conduct inspections to address the issue of supply shortages in some areas," he said.
Saravanan emphasised that traders should be aware of consumers' sensitivity to product prices and take appropriate measures to avoid legal repercussions under the Price Control and Anti-Profiteering Act 2011.
The Malaysian Muslim Restaurant Owners Association (Presma) president, Datuk Jawahar Ali Taib Khan, expressed gratitude to the government for the nationwide reduction in egg prices.
"We welcome the Prime Minister's announcement and hope that the government will consider reducing prices for other essential goods as well.
"This is a positive step that will assist consumers, especially restaurant owners, in reducing costs while maintaining current prices," he said.
Further information on enforcement aspects can be obtained at https://www.kpdn.gov.my/en/faqs/enforcement/price-control-and-anti-profiteering-act.
-- BERNAMA
