Monopolistic practices denounced<\/p>\n
JAKARTA (JP): The speaker of the House of Representatives, a
\nbusiness analyst and a lawyer yesterday all denounced
\nmonopolistic business practices in the country and called for
\nlegal reforms to ensure fair competition.<\/p>\n
\"Unfair competition and the concentration of economic power in
\none group or monopoly will harm the public. Such practices are
\nalso against the ideals of social justice,\" House speaker Wahono
\nsaid in a seminar on monopoly and cartel sponsored by the
\nIndonesian Democratic Party here yesterday.<\/p>\n
\"Existing legal structures, however, do not sufficiently
\nsupport the country's small businesses nor do they guarantee fair
\ncompetition,\" said Wahono, a former Golkar chairman.<\/p>\n
Despite Indonesia's robust economic growth, public and media
\ncriticism of several dominant business groups, especially those
\nbelieved to be politically well-connected, has become
\nincreasingly audible in the last two years.<\/p>\n
The government has promised to pass an anti-monopoly law soon
\nto prevent business groups from dominating industries at every
\nstage, from the upstream level to the downstream operations.<\/p>\n
Wahono also urged the government to carry out legal reforms to
\nrectify the situation and also to anticipate trade liberalization
\nin the near future.<\/p>\n
\"We must change our legal structure because our economy must
\naccommodate the world demand for trade liberalization, which is
\nbased on the principles of competition,\" he said.<\/p>\n
Indonesia is a signatory of the Marrakesh Treaty, which marks
\nthe completion of the Uruguay Round of the General Agreement of
\nTariffs and Trade.<\/p>\n
Meanwhile, lawyer B.M. Kuntjara Jakti said yesterday that
\nIndonesia is equipped with only two laws which enforce fair
\ncompetition.<\/p>\n
\"We have Article 382 of the Criminal Code, which addresses
\nvarious scams and forgeries and the Industrial Law No. 5\/1984,\"
\nhe said.<\/p>\n
\"Regrettably, these are not adequate,\" he said.<\/p>\n
Kuntjara Jakti also suggested that the government introduce
\nseveral acts or laws similar to the Anti Trust Law of the United
\nStates or the Monopolies and Restrictive Practices Act of
\nBritain.<\/p>\n
Business analyst Christianto Wibisono added that Indonesia
\nshould not shy away from adopting a \"modern liberal economic
\nsystem\".<\/p>\n
Such a system, as exemplified by the United States, does not
\nallow unfair market distortions caused by cartels or monopolies,
\nhe said. (hdj)<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/monopolistic-practices-denounced-1447893297",
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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