KUALA LUMPUR, April 3 (Bernama) -- The Ministry of Domestic Trade, Cooperatives and Consumerism will boost the role of the Malaysian Competition Commission (MyCC) in addressing the rising cost of living.
Its minister, Datuk Seri Hamzah Zainudin said MyCC, an agency established to safeguard free and fair competition in commercial markets for the benefit of consumer welfare and efficiency of enterprises, now needed greater membership strength and expertise for more efficient actions.
"The action of cartels (price manipulation by middlemen) is among the factors for price hikes. Although there is a law against monopoly by cartels, it must be enforced.
"We will increase the number of MyCC officers and staff, aimed at intensifying the investigation and research aspects," he said at the #Bebaskartel Mega Celebration 2018, here, today.
The event, held in conjunction with MyCC's seventh anniversary, was part of the commission's advocacy programme aimed at raising public awareness of the Competition Act 2010.
At the same event, Hamzah also launched the Competition Communication and Advocacy Plan 2018-2020 which is MyCC's strategy in providing the implementation framework.
Also present at the event was local popular celebrity, Lisa Surihani, the MyCC ambassador.