Eye on prices to prevent sharp hikes

Eye on prices to prevent sharp hikes THE GOVERNMENT WILL keep an eye on prices to prevent any sharp increases by opportunistic traders attempting to exploit the payment of a cost of living allowance and a bonus to public sector employees under Budget 2006, Deputy Prime Minister Datuk Seri Najib Razak said. He said the government would take other measures as well including reviewing the list of necessities that come under price control. "The list is now being looked at thoroughly by the Ministry of Domestic Trade and Consumer Affairs," he said after the presentation of the budget by Prime Minister Datuk Seri Abdullah Ahmad Badawi. Najib said enforcement would be stepped up and officers would act firmly against traders who failed to price-tag goods displayed for sale. The government is also studying ways to extend the "fair price" concept, he added.