Sunway University economics professor Yeah Kim Leng welcomed this move and said the AP requirement had created restricted and distorted markets while encouraging rent-seeking activities.
PETALING JAYA: The government’s decision to liberalise the food sector by doing away with approved permits (APs) for the food imports is a welcomed move and may help cool local food prices in the short to medium term.
The move comes amid the continued rise in raw material prices including for food items and fertilisers in the international markets.
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