Banks should put peoples’ welfare before profits

The Consumers Association of Penang (CAP) calls on Bank Negara Malaysia (BNM) to ensure that banks do not impose any interest charges/profit on hire-purchase loans and fixed-rate Islamic financing of the B40 and M20 groups for the six-month moratorium period. Interest charges have already been calculated upfront in the loans. These are extraordinary times. Many …

CAP: Price tagging laws must be enforced

Penang Enforcement Chief, Chin Ching Chuang, from the Ministry of Domestic Trade and Consumer Affairs, yesterday reported in the local daily, that the durian sellers in Macalister Road were slapped with two compounds amounting to RM2,000. The sellers were compounded for displaying misleading prices and not displaying prices in the national language. The routine surveys …

CAP: Re-introduce inheritance tax and adjust certain existing taxes to help bridge the gap between the haves and the have-nots.

The Consumers Association of Penang (CAP) is shocked with the pre-empted announcement by the Minister of Finance even before the scheduled budget dialogue which is to be held on 27th June 2019, that the long awaited inheritance tax would not be implemented. This would only contribute to the worsening of the inequality between the haves and the have-nots.  Many governments …