Baku:The government is aiming to draft new legislation or amend existing laws to address rent-seeking behaviors, commonly referred to as 'Alibaba' practices, with the goal of presenting the bill to Parliament by 2027. Economy Minister Akmal Nasrullah Mohd Nasir announced this initiative, emphasizing the need for a legal framework to classify these practices as offenses, as they are not currently defined as crimes.

According to BERNAMA News Agency, Akmal Nasrullah highlighted the challenge that the sale of licenses or Alibaba activities are not yet categorized as criminal offenses. He stressed the importance of establishing an anti-rent-seeking act to clearly define and criminalize these practices.

He was responding to a question from Salamiah Mohd Nor (PN-Temerloh) regarding the government's measures to close rent-seeking channels and evaluate the effectiveness of the related legislation in addressing corruption among civil servants and politicians. In addressing a prior question from Syahredzan Johan (PH-Bangi) on the progress of the legislation and its timeline, he noted that the study includes input from industry players, enforcement agencies, relevant ministries, state governments, and other stakeholders.

The proposed regulatory framework will encompass policies, strategies, and initiatives aimed at effectively combating rent-seeking. The drafting process involves thorough examination to ensure practicality and feasibility of the proposals.

Minister Akmal Nasrullah elaborated that rent-seeking, though sometimes voluntary and mutually agreed upon, can weaken local businesses' capabilities and competitiveness, failing to represent the true market strength and the abilities of local traders. The government remains committed to eliminating rent-seeking, as it negatively impacts market efficiency, creates unfair competition, and hampers the country's productivity growth.

The Ministry of Economy's studies indicate that rent-seeking behaviors can undermine the country's socio-economic efficiency through the leakage of licenses, contracts, and facilities.