To ease competitive pressures on small retail operators nationwide, the government is finalising a new retail bill for enactment by the National Legislative Assembly (NLA).

The proposed law will restrict further expansion of large retail outlets in city areas by imposing a zoning system. It will also require the establishment of a multi-agency committee to regulate the retail industry.

Kirkrai said some wording in the draft legislation is being amended. The bill is expected to be submitted to the Cabinet for preliminary approval next week.

Afterwards, it will be reviewed by the Council of State and forwarded to the NLA. The bill is expected to become law around June this year.

The minister said small retail operators, who have been hit hard by rapid expansion of giant retail multinational companies, should not expect the proposed law to solve all problems.

In addition, he said, the government has no legal authority to stop the retail industry from opening new outlets if their new projects do not violate existing laws.

Meanwhile, Kirkrai said the northeast accounts for one third of the country's population, but the region has the lowest per-capita income due to a wide income distribution gap.

Since half the northeastern population are farmers, the government has adopted market-intervention measures to shore up prices of various crops, especially rice and tapioca, to help improve their economic well-being.

The Nation