Petaling Jaya: PHA Urges Action Against Price Hike of Essential Goods
Hindu Community Faces Ills of Inflation and Rising Cost of Living
The Penang Hindu Association (PHA) has called upon the Domestic Trade and Cost of Living Ministry and the Prime Minister’s Department to take immediate action against importers, manufacturers, wholesalers, and retailers who have increased the prices of essential goods despite the favorable ringgit to US dollar exchange rate.
The association’s president, Datuk P. Murugiah, revealed that PHA has received numerous complaints from the Hindu community regarding the price increase in the run-up to Deepavali on October 31. He stated, “Based on the complaints and feedback, consumers have cited the hefty prices as their primary consideration when purchasing essential items compared with other factors, such as quality and uniqueness of products.”
He added, “We fear that if the matter remains unchecked, it would impact consumer spending and dampen the festive mood by forcing families to scale back on their preparations and pare down on essential cooking items and ingredients that are important for Deepavali.”
According to the survey conducted by PHA, there has been a significant rise in the prices of essential goods and spices compared to last year. For instance, the price of cardamom has skyrocketed from RM40 per kg in 2023 to RM140 per kg this year, which is a 250% increase in just over a year. Out of the 19 items surveyed, seven had a price increase of 100% or more, while the remaining showed an increase of between 22% and 75%.
Murugiah attributed the price increases to the poor economic conditions, saying, “The prices of goods have increased greatly, and this has had a devastating impact on the economy. It is essential that the government takes immediate action to address this issue.”
Hindu Community Advises Prudence and Frugality
In the face of the rising cost of living, PHA has called upon the Hindu community to practice prudence and spend their money wisely. Murugiah cautioned, “Many families may resort to borrowing money to please their children, who would be looking forward to a joyous annual celebration. We wish to caution Hindu families to avoid borrowing, especially from loan sharks, as it could land them in debt and force them into a trap that is hard to escape.”
He recommended that families cut down on the number of traditional dishes, cakes, and sweets that are usually prepared or purchased for Deepavali. “Excessively prepared items could end up being unconsumed and left to waste, so being astute in their practices could help save expenditure,” he noted.
Murugiah advised celebrants to find ways to save costs on everyday purchases by changing their spending habits moderately. “The practice of seasonal austerity may be difficult at first, but if there is persistent commitment, it would help individuals practice a thrifty lifestyle,” he said.
FAOs
1. What is the current situation with the price of essential goods?
The prices of essential goods have increased significantly, with some items rising by as much as 250% in just over a year.
2. Is the ringgit’s favorable exchange rate having any impact on the prices of essential goods?
No, the ringgit’s favorable exchange rate has had little to no impact on the prices of essential goods.
3. What is PHA’s advice to the Hindu community regarding the price increase?
PHA advises the Hindu community to practice prudence and spend their money wisely. They should cut down on the number of traditional dishes, cakes, and sweets prepared or purchased for Deepavali and avoid borrowing money, especially from loan sharks.
4. What is the impact of the price increase on the Hindu community’s plans for Deepavali?
The price increase has dampened the festive spirit and created uncertainty, leading to a financial hangover. Celebrants are being forced to scale back on their preparations and pare down on essential cooking items and ingredients that are important for Deepavali.