Domestic trade ministry mulls doing away with monopoly

LABUAN: The Ministry of Domestic Trade and Consumer Affairs is looking into the possibility of doing away with the monopoly in the supply of goods and services in sectors under its jurisdiction, said Minister Datuk Saifuddin Nasution Ismail.

He said the ministry was collecting the relevant information on various aspects in the business and services sectors where there was a monopoly.

“We will decide whether we should allow the monopoly or if the time has come for us to put a stop to the practice and open the business activities to those with the capability and in compliance with the ministry criteria,” he said at a press conference after launching the PKR Labuan office and officiating at the party Aidilfitri ‘open house’ here Sunday night.

Saifuddin Nasution, who is also PKR secretary-general, also said that the ministry did not rule out the possibility of reviewing the existing policies deemed to have been the cause of the high cost of living and imposing a burden on the stakeholders and traders.

“I have just fulfilled a week listening to briefings from various sections in the ministry. We must not immediately dismantle everything and leave the situation in a vacuum. But we are certainly looking at improvements for the long term for the people,” he said.

The minister said the government was exploring the ways of making positive changes that could bring down the cost of living of the people.

He also said that the ministry was determined to get rid of corruption and power abuse among the staff, regardless of their position.

“We are also committed to fulfilling the 100- day promise and reform agenda as repeatedly reminded by the Pakatan Harapan government in the interests of the people.

“We have been reminded by the Prime Minister, Tun Dr Mahathir Mohamad, that there will be zero tolerance should any of the Cabinet ministers, regardless of their seniority, be found to have been involved in corruption,” he said.

He said that despite the financial constraints currently faced by the government, all ministries were duty- bound to ensure that the people’s interests and the country’s development remained the priority. — Bernama