Wholesale, retail trade sales climb to RM116b in October 2021


THE value of wholesale and retail trade sales climbed 5.4% to RM116.4 billion in October 2021 compared to RM110.5 billion the previous year.

This despite the country still struggling to address the issues of Covid-19, floods, economic slowdown and rising prices of goods.

The Domestic Trade and Consumer Affairs Ministry (KPDHNEP) said it will continue to strengthen the digital economy by extending the retail digitalisation initiative or cashless retail transaction programme nationwide, which has already been implemented in several states, to meet current needs.

The ministry was confident that 2022 will revitalise the domestic trade and distribution sector.

“KPDNHEP supports the government’s efforts in revitalising economic recovery with the implementation of various initiatives announced in 12th Malaysia Plan and in the recent budget to ensure the economic resilience and wellbeing of Malaysian Family.

“The ministry reminds the people and all domestic trade premises to always adhere to the standard operating procedures to ensure that infection rates remain low and do not affect business and distribution operations,” it said in a statement yesterday.

KPDNHEP also extended the Malaysian Family Maximum Pricing Scheme until Feb 4, 2022, to stabilise the price of necessities, reduce the cost of living and give consumers various options to save through planned purchases.

“This effort will be extended with various people-centric programmes this year such as Back-to-School Sales, Festive Season Sales, National Day Sales, Monthly Sports Sales and so on,” it said.

At the same time, KPDNHEP welcomed and supported the government’s various assistance such as the Bantuan Wang Ihsan, electrical cash vouchers, home repairs and building new homes for flood victims.

“The experience of the Covid-19 and flood crises have also prompted the ministry to intensify consumerism programmes in ensuring that the Malaysian Family is more aware of their rights and roles as consumers,” it added.