How is the government going to control prices?
The government will take stern measures to ensure that
businesses do not take advantage of the GST implementation to increase
prices of goods to make excessive profits. Measures to be taken by the
government include introducing the Anti Profiteering Act, intensifying
enforcement action through the National Pricing Council, distribution
of Shoppers’ Guide, as well as making the hypermarkets act as price
Heavier fines and penalties will be imposed to make
sure that the businesses comply with the rules and procedures
formulated. These measures are aimed at changing the profit-centred
attitude and unethical practices of the businesses.