MyCC Chairman Tan Sri Siti Norma YaakobKUALA LUMPUR, Dec 11 (Bernama) — The Special Committee on Competition, spearheaded by the Malaysia Competition Commission (MyCC), recently convened for a second time to discuss various competition issues cutting across sector regulators.
The meeting follows up on the numerous discussions related to competition issues, especially in land transport, financial and telecommunication sectors.
Chairman Tan Sri Siti Norma Yaakob said there was a serious need to consistently apply competition law across businesses regardless of jurisdictions to ensure a progressive business environment.
“Hence, amendments to other Acts that are in conflict with the Competition Act 2010 enforced by the MyCC are necessary to ensure consistent application in the long run,” she said in a statement.
The Special Committee on Competition comprises representatives from the sector regulators, namely the Malaysia Communications and Multimedia Commission (MCMC), the Energy Commission (EC), the National Water Services Commission (SPAN), the Land Public Transport Commission (SPAD), Bank Negara Malaysia (BNM), the Securities Commission (SC) and is chaired by the MyCC.
Among issues discussed were land transport issues such as the liberalisation of school bus fares and the need for further education and engagement with the public on the matter.
The SPAD representative also assured that continuous efforts to improve taxi terminal operations were underway.
SPAD also spoke of transformation plans to enhance the public land and transportation ecosystem, especially for express buses, such as the introduction of a centralised ticketing system and SPAD-approved bus terminals.
The MyCC however, highlighted that in proposing any policies, SPAD must take into account social costs and any anti-competitive aspects.
Other matters brought up during the meeting included the assurance by BNM on requiring banks or insurance companies found breaching the central bank’s guidelines to refund the consumer or replace the products.
Previously, Siti Norma also highlighted the need for BNM to address consumer-related issues.
BNM mentioned its advocacy efforts to stakeholders to promote better compliance in the areas of business conduct and consumer protection.
The statement also said MCMC shared its transformation plan for the postal services, in its efforts to foster a progressive and sustainable postal and courier sector.
Meanwhile the EC shared its ongoing initiatives to improve energy efficiency (EE) and its efforts to maintain the current electricity tariff rate up till June 2015 for the interest of the people.
The Special Committee on Competition was formed in 2011 essentially to share common issues on competition law, as well as, to ensure that there is consistency in the application of the law.
It is also to ensure that the terms and principles on competition introduced by sector regulators and excluded from the Act are consistent with the Competition Act 2010, the statement added.
— BERNAMA
