In a statement on Monday, MSCSPGA stated that Malaysia’s food prices are expected to rise further in the third quarter of 2023 due to the country’s reliance on food imports as well as the currently weak ringgit.

The association said that rising costs of business operations will inevitably fuel the hike in prices, which have also been impacted by increases in the minimum wage and utility bills.

“We strongly urge the government to introduce incentives and long-term solutions in addressing these issues in the upcoming Budget 2024,” it said.

On another note, MSCSPGA commended the government for their efforts in combating the illicit trade of tobacco products in the country.

“The sales of legal tobacco products in retail shops make up 30% of total revenue,” the statement read.

“Illicit cigarette prevalence in Malaysia remains high at 55.3% in May this year. However, there are promising signs of decline, and we would like to applaud the government for their commitment in eradicating illicit trade (of cigarettes) in Malaysia,” it added.

Budget 2024 is scheduled to be tabled in the Dewan Rakyat on Oct 13.

“We sincerely hope that Budget 2024 will be a budget for the people and will alleviate our livelihood in the years to come,” it said.