Discard price controls to raise Malaysia’s global competitiveness, say economists

Free Malaysia Today

Carmelo Ferlito says Malaysia will lose its competitive edge in Southeast Asia if it fails to reduce price controls on certain commodities.  Read More: https://www.freemalaysiatoday.com/category/nation/2024/06/28/discard-price-controls-to-raise-malaysias-global-competitiveness-say-economists/  Laporan Lanjut: https://www.freemalaysiatoday.com/category/bahasa/tempatan/2024/06/28/hapus-kawalan-harga-untuk-tingkat-daya-saing-negara-kata-pakar/  Free Malaysia Today is an independent, bi-lingual news portal with a focus on Malaysian current affairs.    Subscribe to our channel - http://bit.ly/2Qo08ry   ------------------------------------------------------------------------------------------------------------------------------------------------------ Check us out at https://www.freemalaysiatoday.com Follow FMT on Facebook: https://bit.ly/49JJoo5 Follow FMT on Dailymotion: https://bit.ly/2WGITHM Follow FMT on X: https://bit.ly/48zARSW  Follow FMT on Instagram: https://bit.ly/48Cq76h Follow FMT on TikTok : https://bit.ly/3uKuQFp Follow FMT Berita on TikTok: https://bit.ly/48vpnQG  Follow FMT Telegram - https://bit.ly/42VyzMX Follow FMT LinkedIn - https://bit.ly/42YytEb Follow FMT Lifestyle on Instagram: https://bit.ly/42WrsUj Follow FMT on WhatsApp: https://bit.ly/49GMbxW  ------------------------------------------------------------------------------------------------------------------------------------------------------ Download FMT News App: Google Play – http://bit.ly/2YSuV46 App Store – https://apple.co/2HNH7gZ Huawei AppGallery - https://bit.ly/2D2OpNP  #FMTNews #DiscardPriceControl #Malaysia #GlobalCompetitiveness

Transcript

00:00Putrajaya should minimise its interference in commodity prices to improve Malaysia's

00:06International Institute for Management Development World Competitiveness ranking.

00:10Economist Kamil Luthralito said the country's competitiveness will continue to plummet if

00:15the government persists in setting floor and ceiling prices for selected items.

00:20The CEO of the Centre for Market Education said Putrajaya has a long history of distorting

00:25the price of goods, which may lead to the emergence of an economic structure that is

00:29not consistent with supply and demand.

00:32The IMD report recently revealed that Malaysia dropped 7 sports to 34th out of 67 countries

00:38this year.

00:39The nation also dropped 4 sports to 10th out of 14 countries in the Asia-Pacific region,

00:44marking the first time it has ranked lower than Indonesia and Thailand.

00:48University Malaya Senior Economics Lecturer Goh Limtai also said easing price controls

00:53could inject dynamism into the market.

00:55However, he cautioned against overlooking its impact on low-income consumers, stressing

01:00the importance of a balanced approach that considers the needs of both businesses and

01:03consumers.

01:05Sen Wichua, FMT News.

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Transcript

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