Bid rigging and its harmful effects affects not only businesses and consumers, but also country’s economy and government expenditure, said Head of the Executive Secretariat of Competition Commission Brunei Darussalam (CCBD) Hajah Rena Azlina binti Dato Paduka Haji Abdul Aziz.
Over 40 professional surveyors, engineers and architects consist of members of the Institution of Surveyors, Engineers and Architects (PUJA) Brunei, attended an advocacy session entitled ‘Competition Act: Deterring Bid Rigging on Saturday’.
The session was delivered by CCBD through its Executive Secretariat and organised by the PUJA Academy Sdn Bhd to promote the understanding of the Competition Act, Chapter 253.
The session conducted at the Atria Simpur Hall, Public Works Department headquarters was also attended by the Chairperson of CCBD Nik Hafimi binti Abdul Haadii.
The CCBD Executive Secretariat began the session by explaining the key prohibitions under the Act, Section 11: Anti-Competitive Agreements.
Agreements also known as cartels enforced under the Act beginning January 1, 2020.
The session then continued with an explanation on bid rigging which eliminates competition by agreeing on who should win a tender and at what price.
This could cause an increase in prices but lower the quality of goods or services. This may also deprive genuine bidders from obtaining business opportunities which may disincentives companies to do better.
Hajah Rena Azlina also highlighted on other main provisions of the law such as the Leniency Programme under Section 44. This programme she said, “gives incentives for businesses that partake in a cartel activity to come forward to disclose information about prohibited conducts in exchange for up to a full immunity from the penalty”.