Accra:The government is dedicated to stabilizing the prices of essential goods to address concerns over rising living costs following the implementation of a RM2,000 minimum wage set to take effect in June 2027.

According to BERNAMA News Agency, Economy Minister Akmal Nasrullah Mohd Nasir stated that the government will tighten enforcement of the Price Control and Anti-Profiteering Act, and implement the Jualan Rahmah MADANI and Jualan Agro MADANI programmes as part of these efforts.

The country's inflation rate was reported to be under control at 1.7 percent in the first quarter of 2026, with a slight increase to around 1.9 percent in the second quarter. Food inflation was approximately 1.4 percent in May and June, rising to between 1.8 and 1.9 percent in July and August.

Akmal Nasrullah was responding to concerns raised by Aminolhuda Hassan (PH-Sri Gading) regarding potential job cuts, higher prices, or increased operating costs for small businesses due to the new minimum wage law. He noted that the wage increase from RM1,700 to RM2,000 is expected to benefit over four million workers.

To mitigate the impact on micro, small, and medium enterprises (MSMEs), businesses with annual sales below RM50 million will be exempted, allowing them to adjust their business models and financial structures. This measure aims to ensure that employers can continue operations without resorting to drastic measures such as layoffs.

Employees affected by company restructuring due to the wage adjustment, and covered by the Employment Insurance System (EIS), will be eligible for benefits, including a job-search allowance of up to six months.