H.E. PRESIDENT PROF. ARTHUR PETER MUTHARIKA APPROVES REFORMS OF THE COMPETITION AND CONSUMER PROTECTION REGIME IN MALAWI
- Details
- Published on Friday, 18 September 2015 06:04
As part of the ongoing public service reforms, the Competition and Fair Trading Commission (CFTC) wishes to inform the general public that the State President of the Republic of Malawi, His Excellency Prof. Arthur Peter Mutharika has approved reforms for the competition and consumer protection regime in Malawi.
The approved reforms are as follows:
- Amend the Competition and Fair Trading Act (CFTA) to eliminate existing gaps and provide for on-spot fines for some violations of consumer protection laws.
- Amend the Consumer Protection Act (CPA) to harmonize it with the Competition and Fair Trading Act. Under this reform, the CFTC will be designated with the power to administer and enforce the CPA. This will remove overlaps and duplications, hence substantially lessen the financial burden on government funding.
- Construct office complex: This will reduce administrative expenses and diversify the CFTC's revenue base.
- Align sectoral laws to the Competition and Fair Trading Act. This will create synergy and complementarity between the CFTA and sectoral laws. It will also reduce conflicts and duplication of efforts.
The Commission wishes to take this opportunity to thank the State President of the Republic of Malawi, His Excellency Prof Arthur Peter Mutharika for approving these reforms which are key to creating a competitive and fair market environment for the benefit of consumers and the business community.
Further, the Commission wishes to commend the Public Service Reforms Commission, which is chaired by the Vice President Rt. Hon. Dr. Saulos Chilima for providing valuable guidance and advice in the reforms process.
The Commission will work hand in hand with the Ministry of Industry and Trade, key stakeholders and the general public to ensure that these reforms are implemented for the benefit of the business community and consumers.
CHARLOTTE WEZI MALONDA
EXECUTIVE DIRECTOR
