Cheap sales can take place any time from Jan 2 – Saifuddin Nasution

— Cheap sales can take place anytime starting Jan 2 next year instead of just four times a year, said Domestic Trade and Consumer Affairs Minister Datuk Seri Saifuddin Nasution Ismail.

He said that under the Trade Descriptions (Cheap Sale Price) (Amendment) Regulations 2019, which was gazetted on Nov 29, and effective Jan 2 next year, traders can now conduct cheap sales at any time without having to apply for permit to notify the Ministry of Domestic Trade and Consumer Affairs (KPDNHEP).

Prior to this, traders had to apply for a permit 14 days before conducting cheap sales, but with the amendment they are not required to do as such.

With the advance of technology and the growing business model, such concept (limit on the number of cheap sales) are seen as lacking in flexibility and restricting traders from conducting such sales according to their creativity and marketing strategy, he told reporters after officiating the ‘Back to School’ programme at Tesco Seberang Jaya, here today.

He said the quota over cheap sales was also seen as a trade barrier in today’s context and a detailed research was carried out by taking into account of the industry and consumers’ views before his ministry tabled the proposal for the amendments.

Saifuddin Nasution said the abolition on the quota of cheap sales was among 10 provisions involved in the amendments which aimed at improving the regulations, in efforts to address the needs of the retail sector and the protection of consumer rights.

The amendment will also serve as a stimulus for the retail industry to grow in line with today’s progress, he said.

However, he said, in formulating the policy, his ministry took into account the consumer rights by maintaining existing controls to protect them as well as continuous monitoring over cheap sales, especially against traders who made false or misleading statements in their advertisements.

We hope by improving the regulations, cheap sales activities will be more vibrant and moving towards a sustainable business environment. We also believe the unlimited number of such sales will also increase competitiveness in prices offered (to consumers) that indirectly help to lower the cost of living, he said.

Source: BERNAMA (News Agency)