Gov't to relook Hire Purchase Act implementation
Published: Jul 14, 2011 9:49 AM | Updated: Jul 14, 2011 9:59 AM
Minister of Domestic Trade, Co-operatives and Consumerism Ismail Sabri Yaakob today said the ministry would relook certain aspects of the implementation of the Hire Purchase Act (Amendment 2010), which came into effect last month.
Minister of Domestic Trade, Co-operatives and Consumerism Ismail Sabri Yaakob today said the ministry would relook certain aspects of the implementation of the Hire Purchase Act (Amendment 2010), which came into effect last month.
Among the issues which could be reviewed was the requirement of the selling party of a used vehicle to pay RM90 for the vehicle inspection imposed by Puspakom Sdn Bhd before the vehicle could be sold, he told reporters after witnessing the handing over of tithes to students from Selangor by Bank Rakyat here.
Earlier press reports had alleged there were parties who said the inspection carried out by Puspakom on four areas to ensure a car was not stolen or welded together previously was adequate and that the additional 14 areas of inspection on safety was burdensome to the seller.
However, Ismail Sabri said the ministry would be calling related parties involved such as motor industry representatives before any decision was made.
He said the amendment to the Hire Purchase Act was to protect the interest of consumers who had been taken advantage of by certain quarters in the past.
He said with the act, it was hoped that the transaction of selling and buying used vehicles would be more transparent.
He said the government was always looking at ways to assist the people by looking after their welfare like through the Kedai Rakyat 1Malaysia (KR1M) to ensure they could obtain consumer goods at low prices with some as low as 40 percent as compared to the market price.
Ismail said:"We cannot continue to fix the ceiling price for all goods as if we do that, it would appear that Malaysia does not advocate free trade."
Apart from KR1Ms, the ministry also planned to supply to sundry shopkeepers especially at apartments in the Klang Valley with the 1Malaysia branded goods to be sold to the residents, he said.
Ismail said that he would be meeting 113 shopkeepers to discuss the matter.
At the ceremony today, Ismail witnessed the handing over of tithes worth RM888,000 to 8,880 students from 145 primary and 29 secondary schools in Selangor presented by Bank Rakyat Managing Director Kamaruzaman Che Mat to Selangor deputy education director Mahmud Karim.
- Bernama
Among the issues which could be reviewed was the requirement of the selling party of a used vehicle to pay RM90 for the vehicle inspection imposed by Puspakom Sdn Bhd before the vehicle could be sold, he told reporters after witnessing the handing over of tithes to students from Selangor by Bank Rakyat here.Earlier press reports had alleged there were parties who said the inspection carried out by Puspakom on four areas to ensure a car was not stolen or welded together previously was adequate and that the additional 14 areas of inspection on safety was burdensome to the seller.
However, Ismail Sabri said the ministry would be calling related parties involved such as motor industry representatives before any decision was made.He said the amendment to the Hire Purchase Act was to protect the interest of consumers who had been taken advantage of by certain quarters in the past.
He said with the act, it was hoped that the transaction of selling and buying used vehicles would be more transparent.
He said the government was always looking at ways to assist the people by looking after their welfare like through the Kedai Rakyat 1Malaysia (KR1M) to ensure they could obtain consumer goods at low prices with some as low as 40 percent as compared to the market price.
Ismail said:"We cannot continue to fix the ceiling price for all goods as if we do that, it would appear that Malaysia does not advocate free trade."
Apart from KR1Ms, the ministry also planned to supply to sundry shopkeepers especially at apartments in the Klang Valley with the 1Malaysia branded goods to be sold to the residents, he said.
Ismail said that he would be meeting 113 shopkeepers to discuss the matter.
At the ceremony today, Ismail witnessed the handing over of tithes worth RM888,000 to 8,880 students from 145 primary and 29 secondary schools in Selangor presented by Bank Rakyat Managing Director Kamaruzaman Che Mat to Selangor deputy education director Mahmud Karim.
- Bernama
View Comments0