Category: Financial Literacy EN

The Consumers Association of Penang (CAP) welcomes the assurance given by the Prime Minister that the government will not interfere with the investigations by enforcement agencies into the secret accounts in tax havens operated by Malaysians, as revealed in the Pandora Papers. We also reiterate our call made eight months ago that the government set up a Royal Commission of Inquiry (RCI) to...

The Consumers' Association of Penang (CAP) urged the Ministry of Domestic Trade and Consumer Affairs (KPDNHEP) and the Federal Agricultural Marketing Authority (Fama) to take immediate action  in reducing the prices of vegetables and fruits,  as  study has shown that their prices had increased drastically over the last two weeks. The price of chicken increased from RM 9 to RM10 per kilogram...

"The free market is 'socialism' for the rich: the public pays the costs and the rich get the benefit - markets for the poor and plenty of state protection for the rich. Concentration of wealth leads naturally to concentration of power, which in turn translates to legislation favoring the interests of the rich and powerful and thereby increasing even further concentration of power and wealth."...

The Consumers Association of Penang (CAP) is shocked that the government has used its emergency powers to tap into the National Trust Fund (KWAN) for vaccine expenses on 21 April 2021. A new subsection was added to KWAN Act which permits the use of KWAN funds for “the procurement of vaccines and any expenditure incurred in relation to the vaccines for an epidemic of any infectious disease as...

It was reported in the media that i-Sinar withdrawals from the Employees’ Provident Fund’s (EPF) accounts have a “positive immediate impact on the real economy as it supported domestic consumptions”. The economy should be stimulated through investments in areas that have been neglected, e.g. agriculture, healthcare, elderly care, and not through using EPF savings in wasteful consumption....

  Consumers Association of Penang (CAP) calls on the government to set up a Royal Commission of Inquiry to investigate why our laws, institutions and authorities have failed to curb illicit money flows, identify their weaknesses, and make recommendations for eliminating the problem. Based on United Nations and International Monetary Fund documents, the Washington-based think tank Global...

"One of the main effects (I will not say purposes) of orthodox traditional economics was ... a plan for explaining to the privileged class that their position was morally right and was necessary for the welfare of society." — Joan Robinson, British economist

“The purpose of studying economics is not to acquire a set of ready-made answers to economic questions, but to learn how to avoid being deceived by economists.” — Joan Robinson* * British economist Joan Robinson was arguably the only woman born before 1930 who can be considered a great economist.