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Thursday, 3 August 2017

Businesses are now required to display one price As Single Pricing Comes Into Force

Single pricing comes into force


 
KUALA LUMPUR: Businesses are now required to display one price that includes GST, credit card charges and as well as other charges after amendments to the Price Control and Anti Profiteering Act were passed in the Dewan Rakyat.
For consumers, this means they will not have to pay more than the price displayed, quoted or advertised as all costs must be clearly stated before payments are made.
Domestic Trade, Consumerism and Cooperatives Minister Datuk Seri Hamzah Zainuddin said on Wednesday that the policy would benefit consumers and help them make more informed decisions without worrying about additional costs.
“What you see is what you get. For example, if an item costs RM106 including taxes, that price must be displayed and no other charges can be added on after that," said Hamzah.
He added that this includes credit card charges, which must also be stated in advance.
“If someone ends up being charged more than what is stated, they can lodge a complaint with us,” he said when winding up debates on the amendments to the Act.
Asked if traders would still be able to offer discounts after fixing a price, Hamzah said that would not a problem as the price would be lower than the one displayed.
Under the new Section 10B and 10C of the Act,  a trader or business must display, advertise, publish or quote prices of goods or services that includes all Government taxes, duties and charges.
Also under Section 10C, ministry enforcement officers may direct a trader or business to provide true and accurate information of their price lists.
It will be an offence if a trader or business fails to comply with the new provisions.
Offenders, which include companies, may face fines of between RM50,000 and RM200,000 and jail terms of two to five years.
Hamzah said the amendments would resolve the issue of consumers having to pay higher because the amounts on display are often subject to additional costs.
He said the new provisions will promote greater transparency in display, advertisement, publication or quotation of prices or charges, and help the Government gather, analyse and monitor prices of goods and charges in the market.

Read more at http://www.thestar.com.my/news/nation/2017/08/02/no-more-hidden-charges-pay-what-is-displayed/#6Opjb2ERerHULJTY.99

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