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Wednesday, March 31, 2021

Putrajaya urged to curb monopolies in the gig economy

 


The government should review the Competitions Act 2010 and other measures to curb monopolies in the gig economy, said Johor Bahru MP Akmal Nasir.

Akmal said he concurred with Permatang Pauh MP Nurul Izzah Anwar who expressed concerns at the state of the gig economy which could see the rise of monopolies such as e-transport giant, Grab.

"No doubt, these companies have a first-mover advantage but there is also the risk of monopoly and the potential of a major crisis in the future.

"Therefore, the government should review the Competitions Act 2010 to ensure there is no loophole that can be exploited by big industry players to create a monopoly," he said in a statement.

He said the gig economy was still relatively new and therefore required more oversight.

In particular, he said Putrajaya needed to ensure workers in the gig economy were adequately protected.

He noted that only seven percent of the estimated 400,000 gig economy workers were registered under the Social Security Organisation (Socso).

This was despite the government subsiding 70 percent of these workers' Socso contribution with the platform the workers are attached to paying the remaining 30 percent.

"Therefore, the government must look into improving their protection as gig economy workers face the risk of accidents," he said. - Mkini

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