The government's proposal to repeal the Price Control and Anti-Profiteering Act 2011 is a positive move as it will make Malaysia's market more competitive, said Institute for Democracy and Economic Affairs (Ideas).

This is after Domestic Trade, Cooperatives and Consumerism Minister Hamzah said on Thursday his ministry is tasked to look into the Act and will soon be consulting stakeholders.

"This is the right move to make and Hamzah should be supported," said Ideas chief executive Wan Saiful Wan Jan in a statement.

"Although the Act was implemented to counteract sudden increases in prices due to the Goods and Services Tax (GST), the market has since adapted to the GST," he added.

He said the government should leave the prices of goods to market forces, and instead focus on ensuring the market is regulated to enhance consumer choice.

"The reality is that governments cannot be the ones to calculate the best price for the market.

"No one person or committee in any institution is clever enough to undertake this role and anyone claiming to have this knowledge would only be fooling themselves," he said.

He said government action such as ensuring price tags are clearly displayed will help the consumer decide whether or not to buy from a particular seller.

"We must concentrate on helping consumers make informed decisions. Price tagging is the cheapest way of doing this

"Consumers themselves must make informed decisions. We should stop patronising shops that do not display prices clearly. If the displayed prices are too high, we must walk away.

"Stop buying from them. That is the best way to teach unscrupulous businesses," he said.