MTI KEEPING CLOSE WATCH ON LIQUOR PRICES TO AVOID UNFAIR PROFITEERING
The Ministry of Trade and Industry (MTI) highlighted today that businesses should not take advantage of the increase in liquor duties to raise prices unduly at the expense of consumers.
This is in response to recent media reports that some vendors might raise prices due to the increase in liquor excise duties announced during Budget 2014. This includes Mr Thomas Foo, Chairman of Kheng Keow Coffee Merchants Restaurant and Bar-Owners Association who indicated to the media that a bottle of beer that costs around $6 could go up to over $7.
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MINISTRY OF TRADE AND INDUSTRY
24 February 2014