Gov’t enacts bill to allow fair competition

The government has announced in the state media that it will implement a Competitiveness Bill on May 11 to allow fair competition and prevent speculation.

The bill consists of 12 chapters and 53 sections and allows for organising inspection commissions when necessary.

Section 14 prevents confining the distribution of services and goods and restricts price manipulation by business owners. Anyone who violates these sections will be punished with the jail sentence of no more than three years or a fine of KS 3 million (US$ 3,000) or both.

Section 20 directs businesses not to ban consumers or other business partners from seeking partnership with their enterprise. Anyone who infringes will be jailed for five-year term and fined Ks 7 million (US$ 7,000).

In addition, Section 29 restricts importing goods through illegal means and selling them under the market price.

Source: ELEVEN Myanmar

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