Minister: Putrajaya targets 2027 for anti-rent seeking law

KUALA LUMPUR, Oct 14 — The Malaysian government is aiming to introduce legislation that would penalise rent-seeking by 2027, according to Economy Minister Akmal Nasrullah Mohd Nasir. The minister, who represents Johor Bahru in the House of Representatives, explained that the government is deliberating between enacting a new law dedicated to anti-rent seeking or amending existing legal provisions.

The final direction of the bill will depend on comprehensive stakeholder input and the legislative drafting process. The Ministry of Economy aims to present the new law or amendments in Parliament in 2027, following a thorough examination to ensure practicality and effectiveness. Rent-seeking, or "Anti-Ali Baba" as it is termed by the Anwar administration, involves local business owners, permit holders, or license holders subletting or renting out government-issued permits, licenses, contracts, or business premises to third parties without actively managing the business.

This practice has endured for decades, notably during Barisan Nasional's rule. Prime Minister Anwar Ibrahim announced the government's intent to combat rent-seeking on July 10, 2023, during a meeting of the National Economic Action Council (MTEN).