No price hikes after GST zero-rated – Azmin

Economic Affairs Minister Azmin Ali has assured that there will be no price hikes after the government zero-rates the GST on June 1.

"When GST is abolished, it means they (traders) are no longer allowed to raise prices, and I believe the relevant ministry will monitor the situation.

"The ministry involved will cooperate with the Customs Department, and they will step up enforcement so that there are no irresponsible parties taking advantage (of the situation), as Pakatan Harapan's main purpose of abolishing the GST was to reduce the cost of living," Azmin told reporters in Gombak tonight.

Customs Department director-general T Subromaniam earlier today warned traders to ensure that the savings they make from not having to pay GST translated into cheaper goods for consumers.

Harapan plans to replace the GST with the sales and services tax (SST), although there is no timeline for the switch yet.

Meanwhile, Azmin said the Economic Planning Unit is currently preparing a midterm review that will be tabled in September.

"This midterm review will be very different, because not only are we looking at the achievements of the 11th Malaysia Plan for the past two years, but we must also set new goals based on Harapan's promises," he said. -Mkini