Malaysia PM announces special task force to address runaway inflation

KUALA LUMPUR — The Cabinet has approved the formation of a special task force to combat inflation and rising cost of living in Malaysia, prime minister Ismail Sabri Yaakob announced on Wednesday (June 29).

The panel will be in charge of collating data from all ministries, relevant agencies, and the public in order to devise strategies and coordinate efforts to counteract inflation and its effect on the price of goods.

Mr Ismail Sabri said the task force will meet twice a week, on Mondays and Thursdays, with a press conference to be held after each.

“This task force will be chaired by communications and multimedia minister Annuar Musa,” Mr Ismail Sabri said in a statement.

Others on the task force include finance minister Tengku Zafrul Abdul Aziz, agriculture and food industry minister Ronald Kiandee, domestic trade and consumer affairs minister Alexander Nanta Linggi, minister in prime minister’s department (economy) Mustapa Mohamed, and chief secretary to the government Mohd Zuki Ali.

A special officer from Nanta’s ministry will also be seconded to the task force to act as a liaison.

Earlier, Nanta’s ministry announced new ceiling prices for chicken and egg, to replace the previous set that was supposed to be abolished on July 1.

Malaysia is currently facing a cost of living crisis in which the prices of food staples and essentials have risen sharply and steadily since the start of the year. MALAY MAIL