KUALA LUMPUR: The government will announce a new, lower ceiling price for face masks, in a month's time.
The current ceiling price is RM1 per unit.
Domestic Trade and Consumer Affairs Minister Datuk Seri Alexander Nanta Linggi said the decision to lower the price was made to ensure that the people are not financially burdened.
He said the announcement will be made in a month after it is established that the supply of face masks in the country is sufficient.
"It will be announced in the next month. We want to be fair to all relevant parties such as sellers and buyers.
"When the price is lowered, we must make sure there is enough supply of face masks," he said at the launch of the Buy Malaysian Products campaign @ Lulu 2020 at Lulu Hypermarket & Department Store in Jalan Munshi Abdullah here, today.
Alexander also said that the ministry received feedback from pharmaceutical companies on the current RM1 ceiling price, which was enforced on Aug 15. Many companies said that the lower price led to increased demand, and they were unprepared for the need to ramp up production.
"We understand what the local and foreign manufacturers are experiencing, and we will give them space to ensure that there is enough supply.
"We will monitor the supply of face masks in areas of production, import and retail levels, to determine the appropriate maximum price reduction to meet the current market situation.
"The price cannot be too low, which could cause problems for manufacturers and face stock shortages. It is not easy for us to set the ceiling price, but we can do it by researching and looking at the real situation, before setting the ceiling price," he said.
On the Buy Malaysian Products campaign, Alexander said the ministry will be promoting the campaign in Melaka next week, followed by other states.
He said the most effective strategy to promote the campaign is via sales and exhibitions of local brands and products at supermarkets, which could increase awareness among potential buyers.