Council to focus on factors affecting inflation, says Hamzah

hamzah-zainudin-high-cost-of-livingPUTRAJAYA: Factors contributing to inflation will be given special focus by the National Cost of Living Action Council which was formed to address issues involving cost of living, says Domestic Trade, Cooperatives and Consumerism Minister Hamzah Zainuddin.

He said factors such as education, transportation, utilities as well as food and beverages would be given in-depth study by appointed economists, industry players, NGOs and stakeholders who understood consumer issues.

“The appointment is important to enable a holistic discussion on the cost of living issue in the country.

“We want to understand the problems faced by sectors such as transportation and education, and find the best solution for the comfort and well-being of consumers and traders,” he said after officiating the ministry’s monthly assembly here yesterday.

During the recent Umno general assembly, the government agreed to set up the National Action Council on the Cost of Living to address the rising cost of living. The council will be chaired by Deputy Prime Minister Ahmad Zahid Hamidi.

Hamzah said the council would convene its first meeting after its terms of reference were finalised. This is expected to take place in the first week of January.

He said starting in January, the ministry would mobilise its officers and heads of departments to go down to the ground to meet and explain to the people issues involving the cost of living so that they will understand the current economic situation.