KUALA LUMPUR: Companies found guilty of selling face masks above the RM1 ceiling price will be fined RM500,000 or compounded RM250,000, said Domestic Trade and Consumer Affairs Minister Datuk Alexander Nanta Linggi.
As for individuals found guilty of the same offence, Alexander said they will be fined RM100,000, or face three-year imprisonment, or compounded RM50,000 under the Price Control and Anti-Profiteering Act 2011 (Act 723).
"For individuals who fail to display the price of such controlled items, they will be fined RM50,000, or compounded RM25,000; and companies (committing the same offence) will be fined up to RM100,000 or compounded RM50,000," he told a press conference at the Parliament building here, today.
On Tuesday, Alexander told the Dewan Rakyat that the retail ceiling price for three-ply face masks will be lowered to RM1 a piece; while the wholesale cost has been set at 95 sen effective this Saturday (Aug 15).
Asked about the lowest retail price the government could offer the public, Alexander said the ministry is looking at 80 sen a piece – but that no decision has been made on the matter.
"If it is possible, I would like to lower it to 70 sen, but I can't make such promises because we have to consider the situation, such as the factories' ability to offer such a price," he added.