Malaysia targeting monopolies, lopsided deals in bid to cut costs

Tan Sri Syed Mokhtar Albukhary, who has close ties to the government, controls both Bernas and Puspakom. Last week, Communications and Multimedia Minister Gobind Singh Deo lifted a freeze on a telco regulation which he said would lower broadband Inte
Last week, Communications and Multimedia Minister Gobind Singh Deo lifted a freeze on a telco regulation which he said would lower broadband Internet prices by 25 per cent by the end of the year. It was not the only policy approved - there is also a new Cabinet committee that will look at breaking up monopolies that have resulted in inflated prices.PHOTO: REUTERS
Tan Sri Syed Mokhtar Albukhary, who has close ties to the government, controls both Bernas and Puspakom. Last week, Communications and Multimedia Minister Gobind Singh Deo lifted a freeze on a telco regulation which he said would lower broadband Inte
Tan Sri Syed Mokhtar Albukhary, who has close ties to the government, controls both Bernas and Puspakom.PHOTO: REUTERS

Move comes as govt tries to boost spending power, ease financial pressure on the public

Having ridden into power on a wave of public anger over rising costs of living, the Pakatan Harapan (PH) government has begun casting its eye on Malaysia's many lopsided deals and monopolies, as it tries to reduce prices of basic goods and services.

The government has taken the popular step of abolishing the 6 per cent goods and services tax (GST), but this move has mainly helped businesses, while the prices of teh tarik in cafes and milk powder in supermarkets have not fallen.

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A version of this article appeared in the print edition of The Sunday Times on June 24, 2018, with the headline 'Malaysia targeting monopolies, lopsided deals in bid to cut costs'. Print Edition | Subscribe