No decision yet on proposal to set two prices for cooking oil: KPDNHEP

No decision yet on proposal to set two prices for cooking oil: KPDNHEP

MALACCA: The proposal to set two prices for cooking oil, one for domestic use and another for export, has yet to be decided, said Deputy Minister of Domestic Trade and Consumer Affairs (KPDNHEP) Datuk Rosol Wahid.

He said KPDNHEP has held discussions with the Plantation Industries and Commodities Ministry (MPIC) but the matter must be brought to the Cabinet within a week or two for further review.

“It is true that we have discussed the proposal to introduce two-tier pricing for cooking oil…basically we have agreed but it must be decided by the Cabinet.

“We hope to implement this two-tier pricing as this will alleviate the burden of the country, especially involving subsidy for cooking oil,“ he told reporters after officiating at the 67th Meeting of the ASEAN Working Group on Intellectual Property Cooperation (AWGIPC) here today.

He said this when asked to comment on the latest development on the setting of the maximum price for bottled cooking oil in the country.

Elaborating, Rosol said initially, the threshold for cooking oil for the domestic and export markets under the two-tier pricing was discussed but the details could not be disclosed yet.

Last March, KPDNHEP Minister Datuk Seri Alexander Nanta Linggi reportedly said the ministry was looking for alternatives including setting two different prices for sale locally and for export. –Bernama