Deputy Premier attends S’wak, Sabah and Labuan price stabilisation committee meeting in Kota Kinabalu

KUCHING: Deputy Premier Datuk Amar Awang Tengah Ali Hasan today attended the Sabah, Sarawak and Federal Territory of Labuan Price Stabilisation Committee meeting in Kota Kinabalu, Sabah today.

A press statement from his office said the meeting was chaired by Deputy Prime Minister Datuk Seri Fadillah Yusof and was also attended by federal Domestic Trade and Cost of Living Minister Datuk Armizan Mohd Ali and Sabah Community Development and People’s Wellbeing Minister Datuk James Ratib.

“A detailed study on commodity price stabilisation strategies in Sarawak, Sabah and Labuan is being carried out by Universiti Malaysia Sarawak and Universiti Malaysia Sabah.

“This study is expected to be completed by the end of this year and will be presented for consideration by the committee,” said the press statement.

The meeting discussed the issues and challenges of stabilising the prices of goods and services in Sabah, Sarawak and Labuan.

Several strategies were discussed in particular to reduce logistics costs for imported goods as well as the need to develop the food and building materials production industry so it can meet the needs of domestic demand and export market.

They also discussed strategic cooperation between the federal government and the Sabah and Sarawak governments to implement animal feed production initiatives to reduce the dependence on imported materials.

The committee also agreed the involvement of the private sector and community to ensure this programme can be implemented sustainably for the people’s wellbeing.