FOMCA will monitor basic goods prices when GST is implemented

KUALA LUMPUR: Come April 1, when the Goods and Services Tax (GST) is implemented, the Federation of Malaysian Consumers Associations (FOMCA) will take upon itself to monitor prices for basic goods.

Its president, Datuk Dr Marimuthu Nadason said it was their duty to monitor the prices, especially for basic goods that would affect consumers.

"We will keep an eye on the basic items like tuition fees, schoolbus fees, public transportation and basic needs like vegetables and chicken, where it affects the consumers.

"However, you cannot expect us to monitor every item, only the basic needs," he told reporters at the launch of Consumerism Competition for Hari Pengguna Malaysia (HPM) 2015 near here. 

FOMCA will also be giving feedbacks to the finance ministry and the domestic trade, cooperatives and consumerism ministry, once the six per cent GST is implemented to replace the Sales and Services Tax totaling 16 per cent.

Marimuthu said FOMCA would also monitor the tax-free goods and services sector to avoid misuse of GST.

He said GST was tax collection that was not only being done in Malaysia but some 160 countries had already begun using it.

The Consumerism Competition was recorded in the Malaysia Book of Records for the year 2010 and last year in the category of the most participation with 129,509 participations.

This year's competition offers a total prize of RM250,000.