KUALA LUMPUR, July 11 (Bernama) -- The small drop in the prices of goods is the reason why the people have not been able to fully feel or realise the effects of the Goods and Services Tax (GST) which was zero-rated since June 1.
Domestic Trade and Consumer Affairs Minister Datuk Saifuddin Nasution Ismail said the prices of goods appeared to remain the same as over 70 per cent of 417 goods saw a price drop of between 0.04 and and 13 per cent.
He added that based on the findings of a survey done over 35 days from June 1, the 417 goods among others included baby items as well as wet and dry stuff.
"In fact, there is no increase and the price drop is so small that it hardly reached 30 to 40 per cent," he said.
The Minister who is also Kulim Bandar Baharu MP told Bernama this after speaking as a guest on the Ruang Bicara programme, aired by Bernama News Channel yesterday.....