PUTRAJAYA - Several major businesses and restaurants have agreed to cut pricing by up to 5 per cent as a result of the lower fuel prices.
Among the businesses are Mydin, which will reduce the prices of 50 items in its supermarkets by 3 per cent starting Friday while the most popular menus at 12 Q-Bistro restaurants will be cheaper by 5 per cent.
The agreement to offer consumers with lower prices was reached at a meeting between the Domestic Trade, Cooperatives and Consumerism Ministry and some 50 representatives of the business community here yesterday.
Among those present were members of the Federation of Malaysian Manufacturers, Malaysia Retailers Association, Federation of Malaysian Vegetable Sellers Associations, Persatuan Pengusaha Restoran Muslim Malaysia (Presma) and Persatuan Pengusaha Restoran India Malaysia (Primas).
Domestic Trade, Cooperatives and Consumerism Minister Datuk Seri Hasan Malek said more traders were expected to cut prices in the coming weeks.
"It is up to them to announce via bunting or flyers while for the bigger operators, they may take up advertising space.
"For us, we are happy that the meeting has brought about some reduction in the prices of foods and goods," he said.
Hasan added that he would consider meeting the groups more frequently, if only to help in ensuring Malaysians enjoy fair prices.
Last Friday, Datuk Seri Najib Tun Razak, in a blog post on NajibRazak.com, urged all traders to be fair to consumers and lower prices of their goods in tandem with the reduction in costs following the drop in fuel prices.
The Prime Minister also said that consumers had the power to reject goods from traders who did not offer reasonable prices.
He added that the Domestic Trade, Cooperatives and Consumerism had been tasked with conducting more frequent monitoring nationwide to ensure that traders and wholesalers did not overcharge arbitrarily.