Rafizi tells off food operators who keep prices high
Economic affairs minister Rafizi Ramli said high prices at restaurants and food stalls made consumers see red despite falling prices of raw ingredients.
PETALING JAYA: Economic affairs minister Rafizi Ramli has asked owners of restaurants and food stalls why their prices are high despite the lower cost of raw ingredients.
He denounced the attitude of certain operators who still refused to lower their prices.
Bernama reported that the minister asked them to help ease the financial burden of the common people.
“Sometimes people get angry when they see that prices of raw ingredients are declining and electricity rates are being maintained, but the prices charged by restaurants and other food outlets remain the same,” he said.
Rafizi, speaking after officiating the Terengganu PKR election convention in Kuala Terengganu today, said consumers should avoid restaurants that offer food at unreasonable prices.
Last month, Rafizi had made a similar call, asking consumers to avoid buying unreasonably priced items to curb inflation.
Economists had responded by saying that bringing down demand to curb rising costs was too simplistic a solution.
They said in the case of chicken and eggs, there were no alternatives and so forcing people not to buy them was impossible.
In a separate development, Rafizi said it is best to have an economic system where checks and balances exist between politicians and economists in order to take into account all factors.
“If we leave things only to the politicians, they would make decisions at the people’s behest.
“Sometimes their (the people’s) demands are the best for the country, but sometimes they are not so good for the long term,” he said.
The minister said the recent decision by Bank Negara Malaysia (BNM) to maintain the overnight policy rate (OPR) took into consideration what was beneficial for the long term and short term as well as the people’s interests.
On Thursday, BNM’s Monetary Policy Committee surprised the market by deciding to keep the OPR at 2.75% after four consecutive hikes. Nonetheless, some economists still expect further rate hikes this year.
PETALING JAYA: Economic affairs minister Rafizi Ramli has asked owners of restaurants and food stalls why their prices are high despite the lower cost of raw ingredients.
He denounced the attitude of certain operators who still refused to lower their prices.
Bernama reported that the minister asked them to help ease the financial burden of the common people.
“Sometimes people get angry when they see that prices of raw ingredients are declining and electricity rates are being maintained, but the prices charged by restaurants and other food outlets remain the same,” he said.
Rafizi, speaking after officiating the Terengganu PKR election convention in Kuala Terengganu today, said consumers should avoid restaurants that offer food at unreasonable prices.
Last month, Rafizi had made a similar call, asking consumers to avoid buying unreasonably priced items to curb inflation.
Economists had responded by saying that bringing down demand to curb rising costs was too simplistic a solution.
They said in the case of chicken and eggs, there were no alternatives and so forcing people not to buy them was impossible.
In a separate development, Rafizi said it is best to have an economic system where checks and balances exist between politicians and economists in order to take into account all factors.
“If we leave things only to the politicians, they would make decisions at the people’s behest.
“Sometimes their (the people’s) demands are the best for the country, but sometimes they are not so good for the long term,” he said.
The minister said the recent decision by Bank Negara Malaysia (BNM) to maintain the overnight policy rate (OPR) took into consideration what was beneficial for the long term and short term as well as the people’s interests.
On Thursday, BNM’s Monetary Policy Committee surprised the market by deciding to keep the OPR at 2.75% after four consecutive hikes. Nonetheless, some economists still expect further rate hikes this year.
this chap is slowly but surely getting on my tits, since becoming minister he has transformed into a condescending prick
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