chapter 6 - Malaysia Productivity Corporation ( MPC)

APPENDIX D – REGULATORY REVIEW
Consultation
Consultation is a systematic public engagement which involves seeking, receiving, analysing and
responding to feedback from stakeholders or affected parties including the general public. Public
consultation gives citizens and business the opportunity to provide an active input in regulatory
decisions.
Gate-keeper
Regulatory burden is the regulatory costs incurred by businesses when applying for licenses, filling up
forms as well as when reporting and meeting notification requirements for the government. It also
includes the payment of certain fees or investment in specific equipment as well as the administrative
compliance costs encompassing time and money spent on formalities and paperwork necessary for
compliance with regulations. In other words, administrative burdens are the costs incurred by businesses
when complying with obligatory information arising from government regulations.
Good Regulatory Practices
Good regulatory practices (GRP) can be defined as a set of principles which is intended to provide
guidelines to regulatory management. Generally, it is intended to assist regulators in the adoption of
efficient regulatory arrangements which should improve the consistency and transparency of regulations
which will be introduced or reviewed. Therefore, the main goal of GRP is to ensure quality regulation
whereby it meets the desired objectives as well as minimise costs and market distortions.
International Good Regulatory Practices.
The core principle of Guillotine Approach specifies that any regulation required for future policy needs
for market-led development, which is not successfully justified as legal will be eliminated. Besides, it also
specifies that any regulation that is needed but not business-friendly will be simplified as far as possible.
The Guillotine Approach was pioneered by Sweden in the 1980s and was subsequently used in various
forms by Hungary, South Korea, and Mexico.
National Development Planning Committee
The National Development Planning Committee (NDPC) is the highest policy-making forum for
development planning that deliberates economic and socio-economic matters in Malaysia. The NDPC is
a committee of senior government officials, chaired by the Chief Secretary to the Government. Heads of
all economic development ministries, including the Governor of the Central Bank, are members of this
Committee. The NDPC is responsible for formulating and reviewing all plans for national development
and making recommendations on the allocation of resources. It also oversees the implementation of the
national development plans.
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