Following the removal of diesel subsidies starting June 10, ten companies that announced price hikes for goods and services have been summoned to justify their actions. Malaysia’s Domestic Trade and Cost of Living Minister, Datuk Armizan Mohd Ali, revealed that four companies had their fleet card applications approved but still raised prices.
Malaysia summons firms over price hikes
The remaining six companies operate vehicles not listed under the Subsidized Diesel Control Scheme 2.0. These companies must provide detailed information, including documents related to their service offerings or sales, for price gouging analysis.
Failure to comply may result in penalties under Section 57 of Act 723. The ministry has initiated Ops Kesan 2.0 and warns against price manipulation, with fines up to RM500,000 for corporations and RM100,000 or imprisonment for individuals.
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