MALAYSIA Tanah Tumpah Darahku


Wednesday, February 28, 2024

Govt to conduct study, consult stakeholders on Ali Baba law


The government is conducting a study on the framework for the Anti Rent-Seeking Act.

In a written reply published on the Parliament’s website today, the Economy Ministry said input will be obtained from stakeholders for a draft of the act.

“The aim is to gain clear perspectives on the issue related to the ‘Ali Baba’ practice as it involves various sectors and requires appropriate legal actions.

“The government aims to present this Act in Parliament by the year’s end,” it said.

The minister was responding to a question from Alias Razak (PN-Kuala Nerus) regarding developments on an anti-Ali Baba Act.

Last December, Economy Minister Rafizi Ramli said the government was considering an anti-Ali Baba law that would allow strict action against local business license owners who ‘rent’ their licences to migrant workers without meeting the prescribed conditions.

The Anti Rent-Seeking Act was mooted as there are currently no existing laws that can effectively curb such practices.

Legislation such as the MACC Act 2009, Competition Act 2010, Companies Act 2016, and existing by-laws are still insufficient to curb rent-seeking activities.

The Economy Ministry said such practices can harm the economy by increasing operating costs, lowering the quality of products and services, and increasing inequality in society.

The ministry was also responding to Jeli MP Zahari Kechik’s question on the rationale for introducing an Anti Rent-Seeking Act.


No comments:

Post a Comment

Note: Only a member of this blog may post a comment.