MALAYSIA will be introducing a Fair Trade Practices Bill so that consumers will be assured of quality goods and services at reasonable prices.
The Fair Trade Practices Bill is expected to be tabled in Parliament by early next year.
It seeks to promote fair and competitive market environment in the country.
Domestic Trade and Consumer Affairs Minister Datuk Shahrir Abdul Samad said feedback was being sought from industry members, non-governmental organisations and government agencies.
“So far, there are no laws to counter monopolistic trade activities,” he said in response to a question by Zuraida Kamaruddin (PKR – Ampang).
“As of now, we can only take action if the monopolistic practices among businesses contravene the Trade Descriptions Act 1972 and Consumer Protection Act 1999,” he said.
Zuraida had asked whether the Government was delaying the tabling of the Bill to protect government-linked companies (GLCs).
Shahrir also said that the ministry carried out enforcement activities as provided under the Supply Control Act in which officials ensured the supply of consumer goods from manufacturers to the market was adequate.
He said it was not true that the Government was delaying forwarding the Bill to Parliament to protect GLCs.
“More groups have expressed interest to join in the consultation talks on the Bill.
“We also want the Act to be consistent with the aspirations outlined in the Asean Community blueprint, in which member countries will have its own Anti-Competitive Act by 2015,” Shahrir said.
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