PUTRAJAYA, Nov 27 ― The government is expected to announce soon on financial assistance for agricultural industry players to reduce their operation cost due to the price  increase in raw materials.

Domestic Trade and Consumer Affairs (MDTCA) Minister Datuk Seri Alexander Nanta Linggi said the ministry, together with the Ministry of Agriculture and Food Industry (Mafi), had submitted a proposal to the Finance Ministry (MoF) last Nov 24.

"A series of discussions and meetings were held with MoF to address the issue. The Finance Ministry has in principle agreed to consider the recommendations by both the ministries.

"Any decision regarding financial aid to industry players will be announced by MoF,” he said in a statement today.

Nanta said the meeting involving the ministry, MAFI and the Finance Ministry was held following engagement sessions with stakeholders and agriculture industry players.

"Through the session, the affected industry players informed us of their need for financial assistance from the government to reduce their operational cost,” he added.

According to Nanta, the ministry is always sensitive and concerned about any issue or price increase of goods as it burdens the people.

Thus, he said the ministry's enforcement officers will conduct checks and monitor the price of goods nationwide.

"If there is an element of profiteering, we will take action under the Price Control and Anti-Profiteering Act 2011,” he said and advised consumers to use the Price Catcher Application to get the latest information on the price of essential items. ― Bernama