(File pix) Domestic Trade, Cooperatives and Consumerism Minister Datuk Saifuddin Nasution Ismail says a cabinet committee had been set up to scrutinise business and service monopolies in the country.

KUALA LUMPUR: The fate of four companies which have been identified to have monopolistic practices is now in the government’s hands.

Domestic Trade, Cooperatives and Consumerism Minister Datuk Saifuddin Nasution Ismail said a cabinet committee had been set up to scrutinise business and service monopolies in the country.

The four companies are Padiberas Nasional Bhd (Bernas), Puspakom Sdn Bhd, Pharmaniaga Bhd and MyEG Services Bhd.

These monopolies are involved in rice imports, vehicle inspection, medicines and immigration.

Saifuddin said the committee would be looking at various options including dismantling or allowing the monopolies to continue, depending on a few factors.

“A recommendation on whether we will dismantle their monopolistic businesses will be made in the future. Now, we are still in the discussion stage among the committee. So far, we have identified four companies,” he told a press conference at MIDF Luncheon Talk here today.

Saifuddin said the ministry’s goal in looking into the business monopolies was to allow for a better control over certain product prices.

He said the committee, led by Economic Affairs Minister Datuk Seri Mohamed Azmin Ali, also involved Transport Minister Anthony Loke, Health Minister Dr Dzulkifli Ahmad and Agriculture and Agro-based Minister Datuk Salahuddin Ayub.

“This is one of the long term efforts in tackling the rising cost of living. The short term measures include the targeted fuel subsidies and the food bank while the medium term measure would be looking at the supply chain to implement price control,” he said.

Saifuddin said the government will continue to introduce counter measures to help ease the rakyat’s burden especially the B40 group.

More holistic policies will also be implemented to ensure improvement in the overall wellbeing of Malaysians.

“The rakyat can expect both short and long term measures from the government in tackling this issus,” said Saifuddin.

MIDF 2019 Talk Series serves an integral platform for ministers and industry leaders to share insights as well as public policies and issues of mounting concerns pertaining to their respective jurisdictions or industries.

680 reads