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PM: Law being mulled to end ‘Ali Baba' culture

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PUTRAJAYA: A law is being mulled to put a stop to the “Ali Baba” culture or rent-seeking activities, which is estimated to cause losses of about 1% of the country’s Gross Domestic Product, says Datuk Seri Anwar Ibrahim.

The Prime Minister said the estimated losses from rent-seeking activities involved, among others, procurement, licensing, awarding of permits and quotas, subsidies and grants.

The Prime Minister said that this was among matters discussed at the National Economic Action Council meeting on Monday . “Pioneer flagship projects as well as the NTER initiatives will increase the industry’s participation to explore new sources of energy and create market demands,” he added.

 

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