Govt Committed To Controlling Prices Following Minimum Wage Hike - Akmal Nasrullah
KUALA LUMPUR, Oct 13 (Bernama) -- The government will continue to strengthen efforts to stabilise the prices of essential goods to address concerns over rising living costs following the implementation of the RM2,000 minimum wage effective June 2027.
Economy Minister Akmal Nasrullah Mohd Nasir said the efforts include tightening enforcement of the Price Control and Anti-Profiteering Act, and implementing the Jualan Rahmah MADANI and Jualan Agro MADANI programmes.
“The country’s inflation rate remains under control at 1.7 per cent in the first quarter of 2026 (1Q 2026) and around 1.9 per cent in 2Q.
“We also noted that food inflation was around 1.4 per cent in May and June, and between 1.8 and 1.9 per cent in July and August,” he said at today's Dewan Rakyat's question-and-answer session.
He was responding to Aminolhuda Hassan (PH-Sri Gading), who asked about government measures to ensure the RM2,000 minimum wage implementation would not result in job cuts, higher prices of goods or increased operating costs for small businesses.
Akmal said the minimum wage increase to RM2,000 from RM1,700 is expected to benefit more than four million workers.
“To ease the burden on micro, small and medium enterprises (MSMEs), businesses with annual sales below RM50 million will be exempted to enable them to adjust business models and restructure their financial positions.
“This measure is important to ensure that employers can continue operating without taking drastic action, including laying off workers,” he said.
Those affected by company restructuring following the minimum wage adjustment, and who are covered under the Employment Insurance System (EIS), are eligible to claim benefits, including a job-search allowance up to six months.
-- BERNAMA