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Irrelevant to say inflation task force has failed: Minister

Irrelevant to say inflation task force has failed: Minister

MALACCA: The accusations that the Special Task Force on Jihad against Inflation had failed to control the price of goods and that it should be disbanded are irrelevant, said task force chairman Tan Sri Annuar Musa.

Annuar, who is also Minister of Communications and Multimedia, said the task force was also accused of failing to control the increase in Overnight Policy Rate (OPR) which was announced by Bank Negara Malaysia (BNM) recently.

He said the team would not be disbanded but would continue to work hard to ensure that the prices of goods can be controlled to help the people, especially those with low income.

“For example, the price of cooking oil has dropped by 40 cents, the price of chicken too dropped…we have a lot more work to do. Matters related to the country’s monetary policy are not decided by the task force or the Cabinet, but by the Monetary Policy Committee.

“Neither the Cabinet nor the sub-committee formed by the Cabinet (Special Task Force on Jihad against Inflation) can overrule monetary policy because it has its own law. The OPR is set taking into account several factors,“ he told reporters after checking on the preparations and rehearsal for the Malaysia Day 2022 celebrations in Banda Hilir, here yesterday.

Also present were K-KOMM secretary-general Datuk Seri Mohammad Mentek, Malaysian National News Agency (Bernama) chief executive officer Roslan Ariffin and National Department of Culture and Arts (JKKN) Cultural Arts Development Division director Rosnan Nordin.

Annuar added that if the prices of goods increase, the government would take intervention measures to help the people.

He said the prices of goods in the country are still under control and very much cheaper compared to neighbouring countries and this has given rise to smuggling.

As such, he said the government would beef up border control to ensure that goods from Malaysia are not diverted to neighbouring countries. – Bernama