KUALA LUMPUR, Aug 29 — A policy paper to review the issuance of Approved Permits (AP) and Import Permits (IP) will be tabled for the National Economic Action Council’s consideration soon, Economy Minister Rafizi Ramli announced today.

Rafizi said the paper, which aims to reduce the use of the two permits, is expected to be ready within the next two months.

"Both of these required a careful study of them and this took about five to six months for the paper’s preparation since we cannot remove them entirely as we need to ensure there are no disruptions to the whole value chain.

"But with the eventual policy decision decided on the federal level, the government hopes that this will not only control inflation rate but also directly assist in elevating the purchasing power of the people,” he said in a press conference at his ministry in Putrajaya here.

AP is an import and export licence issued by the Permit Issuing Agencies (PIAs) under the Customs Act 1967.

Investment, Trade and Industry minister Datuk Seri Tengku Zafrul Abdul Aziz had last month said the government has no intention of phasing out the approved permit (AP) system for car imports.

Rafizi also said there was room to further improve anti-monopoly regulations and competition to ensure the market remains competitive.

"By increasing competition, the price of goods and services will become reasonable.

"Inflation control and increasing the rakyat’s purchasing power is a critical component of Ekonomi Madani, which will be implemented in an inclusive, effective and lasting manner to ensure the people’s welfare,” he said.