The special Cabinet committee established to tackle the cost of living should address the spiralling cost of goods offered by traders, says Deputy Finance Minister Ahmad Maslan.

"I hope the special committee will soon arrive at an amicable decision that will bring cheer to the people like stepping up strict enforcement and widening the list of controlled items, he told reporters at the pre-launch of the World Banjar Socioeconomy Convention in Kuala Lumpur today.

He said the committee should also decide on stern action to be taken against traders who raised prices exorbitantly through the effective implementation of the Price Control and Anti-Profiteering Act.

Deputy Prime Minister Muhyiddin Yassin today announced the formation of the committee to handle the rising cost of goods which was prompted by the marketing structure including the supply and marketing system.

Ahmad said the establishment of the special committee would integrate the policies and programmes of the various ministries and agencies to share the responsibility of tackling the issue instead of allowing the Domestic Trade, Cooperative and Consumerism Ministry to shoulder the burden alone.

"The rising cost of living and goods is not an issue for a particular ministry to handle, it's not only the (responsibility of) Domestic Trade, Cooperative and Consumerism Ministry that is involved in solving escalating cost of living and goods.

"It also involves many other ministries including the Ministry of Finance," he added.

- Bernama