Minister: Competition Act in the works PDF Print E-mail
Written by ERA Administrator   
Tuesday, 26 January 2010 07:48
PUTRAJAYA: A Competition Act will be in place next year to protect consumers from unscrupulous trading practices through cartel activities and monopolies.

Domestic Trade, Co-operative and Consumerism Minister Datuk Seri Ismail Sabri Yaakob said the draft of the new legislation had already been submitted to the Attorney-General’s Chambers and would be up for its first reading in Parliament in March.

“The Act will allow us to act against those monopolising certain types of businesses and prevent them from increasing their fees indiscriminately just because the public cannot get similar services elsewhere,” he told reporters after meeting representatives from consumer associations yesterday.

He said the Act was expected to be enforced by 2011 as time was needed to educate the public as well as operators on the new law.

Ismail Sabri said several Acts under the ministry would also be amended to further protect consumers against indiscriminate practices.

Once these amendments were in place, he said consumers would be protected against businesses that increased prices “to a ridiculous level”.

For example, he said restaurant owners could face prosecution if they charged an additional 20 or 30 sen for a glass of teh tarik when the sugar price increase was about 20 sen per kilo.